3660 ARTICLE 101

of the State Accident Fund, and any account may be charged from the
books of the, State Accident Fund when it shall appear to the Attorney
General, the Comptroller of the State and the Chairman of the State In-
dustrial Accident Commission that such account is uncollectible.
See notes to sec. 14.

An. Code, 1924, sec. 23. 1912, sec. 23. 1914, ch. 800, sec. 23.

23. Ten per centum of the premiums collected from employers insured
in the State Accident Fund shall be set aside by the Commission for the
creation of a surplus until such surplus shall amount to the sum of fifty
thousand dollars, and thereafter five per centum of such premiums until
such time as in the judgment of said Commission such surplus shall be
sufficiently large to cover the catastrophe hazard. The Commission shall
also set up and maintain a reserve adequate to meet anticipated losses and
carry all claims and policies to maturity.
See notes to secs. 18 and 48.

An. Code, 1924, sec. 24. 1912, see. 24. 1914, ch. 800, sec. 24.

24. The Treasurer of the State shall be the custodian of the State
Accident Fund and all disbursements therefrom shall be paid by him upon
order or voucher, approved and signed by the chairman or acting chair-
man and secretary of the Commission, and directed to the Comptroller of
the State, who shall draw his warrant therefor. It shall be the duty of
the Treasurer to keep and maintain the fund herein created separate and
distinct from other State funds. On and after January 1st, .1915, the
obligation in the bond of the State Treasurer shall contain a provision
securing the protection of this fund.

An. Code, 1924, sec. 25. 1912, see. 25. 1914, ch. 800, sec. 25.

25. Whenever and as often as there shall bs in the hands of the Trea-
surer any sum belonging to the State Accident Fund not likely, in the
opinion of the Commission, to be required for immediate use, it shall be
the duty of the Board of Public Works, when called upon by the Commis-
sion, to invest the same in interest-bearing securities, such as are accepted
by the equity courts of Baltimore City for the investment of trust funds,
and when and as it may become necessary or expedient to use the moneys
so loaned or invested the Board of Public Works shall, when called
upon by the Commission, collect or sell or otherwise realize upon any
such loan or investment, and any interest accruing upon any such 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 subject to all 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 Trea-
surer shall be collected by him and placed to the credit of the fund.

An. Code, 1924, sec. 26. 1912, sec. 26. 1914, ch. 800, sec. 26. 1916, ch. 379.

26. Any employer, after entering the State Accident Fund may with-
draw from said fund after the period of one year upon giving sixty (60)
days' notice of his intention so to do and upon paying all arrears, if any,
of premiums due the said fund, and upon assuring compensation to his
employees by one of the other methods specified in this article.