HARRY HUGHES, Governor

2381

the available funds shall be prorated to these claims in
proportion to the amounts of the awards due and payable in
that year and the unpaid portion thereof shall be paid as
soon as funds are available.]

[86.

If necessary to secure funds for the payments of these
awards, it shall be the duty of the Department, upon such
certification, to levy assessments on all insurers writing
workmen's compensation insurance in the proportion that the
workmen's compensation insurance written by each such
insurer in the State during the preceding calendar year
bears to the total of such insurance written in the State
during that year. The assessments may be made at any time
by the Department in its discretion for such amount as it
estimates will be necessary to meet both past and future
awards which will probably become due and payable during the
year in which the assessment is levied. Each insurer
assessed shall be given at least thirty (30) days' notice by
mail as to the date the assessment is due and payable. In no
event shall the total sum assessed in any calendar year
exceed one percent (1%) of the premiums for workmen's
compensation insurance written in this State during the
preceding calendar year. Any assessment paid under the
provisions of this subtitle shall be included in determining
the loss ratio of such insurers.]

[87.

The Department shall be subrogated to the rights of the
employee or his dependents, as against the employer and his
insurer, to the extent of payments made by the Department
under the provisions of this subtitle, and shall take such
legal proceedings as it shall deem necessary or advisable to
recover thereon, and all sums so recovered shall constitute
an additional fund for payment of these awards until the
same are paid in full.]

[88.

After the insolvency of any such insurer, the
Department shall be a party in interest in all workmen's
compensation proceedings involving risks insured by this
insurer with the same rights to receive notice, defend,
appeal, and review as a solvent insurer would have.]

[89.

The Department may sue for and recover any assessment
not paid when due and any insurer which shall fail to pay an
assessment, as provided in this subtitle shall be liable to
forfeiture and revocation of its license by the Department.]

Article 48A - Insurance Code

504.