(a) In addition to the requirement that adequate security be
procured as set forth in this subpart, the applicant for the
authorization to self-insure shall, as a condition precedent to
receiving such authorization, execute and file with the Office an
agreement and undertaking in a form prescribed and provided by the
Office in which the applicant shall agree:
(1) To pay when due, as required by the Act, all benefits payable
on account of total disability or death of any of its employee-miners;
(2) To furnish medical, surgical, hospital, and other attendance,
treatment, and care as required by the Act;
(3) To provide security in a form approved by the Office (see
Sec. 726.104) and in an amount established by the Office (see
Sec. 726.105), as elected in the application;
(4) To authorize the Office to sell any negotiable securities so
deposited or any part thereof, and to pay from the proceeds thereof
such benefits, medical, and other expenses and any accrued penalties
imposed by law as the Office may find to be due and payable.
(b) When an applicant has provided the requisite security, he shall
send to the Office in Washington, D.C. a completed agreement and
undertaking, together with satisfactory proof that his obligations and
liabilities under the Act have been secured.
