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Maryland Manual, 1915-16
Volume 126, Page 281   View pdf image (33K)
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loan or investment, as well as any interest received upon the
deposit of moneys belonging to said fund. shall be credited to
said fund.

The State Treasurer may deposit any portion of the State
fund not needed for immediate use, in the manner and sub-
ject to all the provisions of law respecting the deposit of
other State funds by him. Interest earned by such portion of
the State Accident Fund deposited by the State Treasurer
shall be collected by him and placed to the credit of the fund.

SEC. 26. Any employer, after entering the State Accident
Fund may withdraw from said fund after the period of one
year upon giving sixty (60) days' written notice of his in-
tention so to do and upon paying all arrears, if any, of pre-
miums due the said fund and such other equitable assessments
as may be determined by the Commission to cover accidents
occurring in the industries in which his occupation may be
classified, provided that if at the time of such withdrawal lia-
bility shall exist against the accident fund for compensation
to employees or dependents of employees who have hereto-
fore been billed or injured as herein provided, such employer
shall relieve the State Accident Fund from such liability by
depositing with the State Treasurer for the benefit of said
fund the then present value of the total unpaid compensation
for which such liability exists, assuming interest at the rate
of 6 per cent, or by purchasing an annuity with the limitations
provided by law with any insurance company approved by the
Commission and licensed in this State.

SEC. 27. As soon as practicable after December thirty-first,
nineteen hundred and seventeen, and annually thereafter, the
Commission shall calculate the total administrative expense
incurred during the preceding calendar year in connection
with the examination, determination and payment of claims
and percentage which this expense bore to the total compen-
sation payments made during that year. The percentage so
calculated, and determined, shall be assessed against the insur-
ance carriers including the State fund as an addition to the
payments required, from them in the settlement of claims dur-
ing the year immediately following, and the amounts so se-
cured shall be transferred to the State Treasury to reimburse
it for this portion of the expense of administering this Act.

SEC. 28. If this Act shall be hereafter repealed, all moneys
which are in the State Accident Fund at the time of the re-
peal shall be subject to such disposition as may be provided by


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Maryland Manual, 1915-16
Volume 126, Page 281   View pdf image (33K)
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