(1) "Applicant" means an employee entitled to workers' compensation benefits.

(2) "Board" means the State Board of Workers' Compensation.

(3) "Board of trustees" means the board of trustees of the fund.

(4) "Company" means a corporation, association, partnership, proprietorship, firm, or other form of business organization.

(5) "Fund" means the Self-insurers Guaranty Trust Fund established by this article.

(6) "Insolvent self-insurer" means a self-insurer:

(A) Who files for relief under the federal Bankruptcy Act;

(B) Against whom involuntary bankruptcy proceedings are filed;

(C) For whom a receiver is appointed in a federal or state court of this state or any other jurisdiction;

(D) Who is in default on workers' compensation obligations; or

(E) Who is determined by the board to be in noncompliance with workers' compensation obligations or requirements under the laws of this state and the rules and regulations of the board.

(7) "Participant" means a self-insurer who is a member of the fund.

(8) "Self-insurer" means a private employer, including any hospital authority created pursuant to the provisions of Article 4 of Chapter 7 of Title 31, the "Hospital Authorities Law," that has been authorized to self-insure its payment of workers' compensation benefits pursuant to this chapter. The term "self-insurer" shall not mean or include any of the following:

(A) Any governmental employer authorized by the board to self-insure;

(B) Any employer who elects to group self-insure pursuant to Code Section 34-9-152;

(C) Captive insurers as provided for in Chapter 41 of Title 33;

(D) Any employer who, pursuant to any reciprocal agreements or contracts of indemnity executed prior to March 8, 1960, created funds for the purpose of satisfying the obligations of self-insured employers under this chapter; or

(E) Any individual or company who:

(i) Enters into a contract or agreement with an employer under which the employer outsources its workers' compensation risks, responsibilities, obligations, or liabilities to such individual or company; and

(ii) Pursuant to such contract or agreement, is required to provide workers' compensation benefits to an injured employee even though no common-law master-servant relationship or contract of employment exists between the injured employee and the individual or company providing the benefits.

(9) "Trustee" means a member of the Self-insurers Guaranty Trust Fund board of trustees.