(1) Each employer providing insurance, or electing directly to pay compensation to the employer's injured workers, or the dependents of the employer's killed employees, in accordance with this chapter and Chapter 3, Utah Occupational Disease Act, shall post in conspicuous places about the employer's place of business typewritten or printed notices stating, that:
(a) the employer has complied with this chapter and Chapter 3, Utah Occupational Disease Act, and all the rules of the commission made under this chapter and Chapter 3, Utah Occupational Disease Act; and
(b) if such is the case, the employer has been authorized by the division directly to compensate the employees or dependents.
(2) The notice required in Subsection (1) when posted in accordance with Subsection (1), shall constitute sufficient notice to the employer's employees of the fact that the employer has complied with the law as to securing compensation to the employer's employees and their dependents.