Requires, in new GS 97-144, a workers’ compensation claim to be filed against the North Carolina Self-Insurance Security Association (Association) within five years after the claims bar date established by a court of competent jurisdiction in the insolvency proceeding of a former member self-insurer. Instructs that any claim not filed within the five-year period is forever barred as a claim against the Association.

Authorizes the Association under GS 97-133 to require collateral as a condition of participation based on the member’s financial condition. 

Makes technical and conforming changes to definition of covered claim in GS 97-130 (definitions pertaining to the Association). Modifies term Association Aggregate Security System (System) so that it now refers to those worker’s compensation liabilities incurred while the self-insurer was a member of the Association under the described conditions. Adds new term collateral. Makes technical changes.

Makes technical and conforming changes to GS 97-165 (definitions pertaining to individual employers). Adds the Association, collateral, and member self-insurer or member as a defined term. Makes conforming changes to GS 97-185 (pertaining to the System).