(1) The department's approval of requests from private applicants to self-insure is contingent upon the acceptance of membership in the guaranty fund in accordance with 39-71-2609 , MCA.

(2) The department will exchange information with the guaranty fund regarding financial statements, security deposit requirements, excess insurance requirements and any other information pertinent to the department's review of the application.

(3) The guaranty fund shall demonstrate concurrence/nonconcurrence with department approval of a private plan no. 1 applicant by submitting in writing to the department a formal acceptance or denial of the plan no. 1 applicant.

(4) If the department does not approve an applicant to self-insure, or if the guaranty fund does not accept the applicant as a member, then the applicant may not be granted permission to self-insure under plan no. 1.