MARVIN MANDEL, Governor

739

the amount paid by the insurers.

(e) The funds collected subsequent to January 1,
1973, pursuant to subsections (b) and (c) hereof and
income accruing therefrom shall be accounted for
separately from funds collected from premiums on policies
issued by the Fund and income accruing therefrom. [Funds
so collected pursuant to subsections (b) and (c) , and
income accruing therefrom, shall be available solely for
payment of claims arising under § 243H and administrative
costs fairly apportioned thereto; and funds collected
from premiums and income accruing therefrom shall be
available solely for payment of claims arising under
policies issued by the Fund and for administrative
expenses fairly apportioned to the issuance of such
policies and the processing and payment of claims
thereunder.] [[Upon recommendation of the executive
director, the board of trustees, with the approval of the
board of public works, may permit the temporary use of
funds collected pursuant to subsection (b) and not needed
for the payment of claims arising under § 243H or
administrative costs fairly apportioned thereto, for
other purposes]][; provided, however, that any such funds
so transferred shall be repaid within one year, and the
board shall promptly seek an adjustment in premium
schedules or make such other financial adjustments as
will enable it to repay the funds within one year][.]]
]]

(C) ON OR BEFORE OCTOBER 15 OF EACH YEAR, THE
BOARD OF TRUSTEES SHALL DETERMINE THE PROBABLE AMOUNT OF
MONEY THAT, IN ITS JUDGMENT, WILL BE NEEDED FOR THE FUND
TO CARRY OUT ITS FUNCTIONS AND MEET ITS OBLIGATIONS IN
THE NEXT ENSUING CALENDAR YEAR. IF, IN THE BOARD'S
JUDGMENT, THE EXPECTED AMOUNT OF MONEY THAT BILL BE
AVAILABLE TO THE FUND DURING THAT NEXT YEAR FROM PREMIUMS
AND INVESTMENTS WILL BE INSUFFICIENT FOR THOSE PURPOSES,
IT SHALL DETERMINE THE AMOUNT OF ESTIMATED INSUFFICIENCY
AND CERTIFY THAT AMOUNT TO THE INSURANCE COMMISSIONER AND
THE INDUSTRY AUTOMOBILE INSURANCE ASSOCIATION. THE

ASSOCIATION SHALL ASSESS AND COLLECT FROM ITS MEMBER

COMPANIES THE AMOUNT OF THE CERTIFIED ESTIMATED
INSUFFICIENCY, IN ACCORDANCE WITH §243M, AND SHALL PAY
THE AMOUNT OF THE INSUFFICIENCY TO THE FUND ON OR BEFORE
DECEMBER 31 NEXT FOLLOWING THE DATE OF CERTIFICATION.

(E) PAYMENTS MADE BY THE MEMBER COMPANIES OF THE
ASSOCIATION ON ACCOUNT OF ASSESSMENTS MADE BY THE
INDUSTRY AUTOMOBILE INSURANCE ASSOCIATION MAY NOT BE
DEDUCTED FROM ANY OTHER ASSESSMENT OR TAX REQUIRED BY LAW
EXCEPT A RETALIATORY TAX. MONEY, PROPERTY, AND FUNDS
AVAILABLE TO THE FUND MAY BE USED FOR THE GENERAL
PURPOSES OF THE FUND. HOWEVER,

(1) FUNDS COLLECTED FROM PREMIUMS AND INCOME

ACCRUING FROM THOSE FUNDS MAY BE USED ONLY FOR THE

PAYMENT OF CLAIMS ARISING UNDER POLICIES ISSUED BY THE
FUND AND FOR THE ADMINISTRATIVE EXPENSES OF THE FUND; AND