The Fund is financed through an assessment of 6.5 percent on awards against employers or insurers for permanent disability or death, and on amounts paid under settlement agreements (Code Labor & Employment Article, sec. 9-806).
The Subsequent Injury Fund Board's function first was assumed in 1963 by the Workmen's Compensation Commission when the Commission was made responsible for the Subsequent Injury Fund (Chapter 809, Acts of 1963). In 1975, the Workmen's Compensation Fund Board succeeded the Commission and, in turn, was replaced by the Subsequent Injury Fund Board in 1982 (Chapter 142, Acts of 1982).
Three members constitute the Subsequent Injury Fund Board. They are appointed to four-year terms by the Governor with Senate advice and consent. The Board names the Director (Code Labor and Employment Article, secs. 10-201 through 10-219).
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