266                               LAWS OF MARYLAND                       [CH. 152

The Commission shall also impose an additional assessment of fif-
teen per centum (15%) of the award or awards made in each such
claim, such additional assessment not to exceed, however, the sum
of one thousand five hundred dollars ($1,500.00) in any one claim,
and shall direct that such additional assessment also be paid into
the Fund.

(c)    If the employer shall fail to pay these assessments into the
Fund within ten days after date of mailing of notice thereof to
him, such default shall constitute a default in payment of compensa-
tion due pursuant to. the provisions of Section 19 of this article
and judgment therefor shall be entered in accordance therewith,
all other provisions of said section to be deemed applicable with
respect thereto, except to the extent that said provisions may be
clearly inconsistent with the provisions of this section. All sums
collected from an uninsured employer with respect to any claim for
compensation referred to in this section but not payable from the
Fund, except fines collected from such employer pursuant to Section
19 of this Article, whether such collection is made prior or sub-
sequent to entry of judgment against such employer, shall be deemed
in payment of and applicable first in satisfaction of any compen-
sation and benefits due from such employer with respect to such
claim and security demand, if any, in connection therewith and only
when such obligations are satisfied in full shall the balance of
said sums collected, if any, be deemed payment in satisfaction and
applicable to the assessments above prescribed in this section.

(d)    All sums recovered from uninsured employers on judg-
ments entered for failure to pay assessments as hereinbefore pro-
vided and for failure to pay compensation and benefits which were
paid from the Fund herein created, shall upon such recovery be
paid into said Fund.

87.

(a)    The State Treasurer shall be the custodian of the Fund and
shall invest any surplus moneys thereof in securities which con-
stitute legal investments for savings banks under the laws of this
state and in interest bearing certificates of deposit of a bank or
trust company located and authorized to do business in this state
or of a national bank located in this state secured by a pledge of
direct obligations of the United States or of the State of Maryland
in an amount equal to the amount of such certificates of deposit,
and may sell any of the securities or certificates of deposit in which
such fund is invested, if necessary for the proper administration
or in the best interest of such fund. Disbursements from such fund
as provided by this section shall be paid by the Treasurer upon
vouchers signed by the chairman of the Commission.

(b)    The Treasurer, as custodian of such fund, as soon as practi-
cable after January 15, 1969 and annually thereafter, shall furnish
to the Commission a statement of the Fund, setting forth the balance
of moneys in the Fund as of the time of the preceding statement,
the income of the Fund, a summary of payments out of the Fund
on account of compensation ordered to be paid therefrom by the
Treasurer, medical and other expenses, and all other charges against
the Fund in the interim and setting forth the balance of the Fund
remaining to its credit as of the end of the period being reported.