HARRY HUGHES, Governor                                    1633

(2) Following receipt of the certified actual
operating loss for an immediately preceding calendar year, the
board of directors of the association shall promptly assess and
collect from all member companies their pro rata shares of the

certified loss, COMMERCIAL AND PRIVATE PASSENGER, RESPECTIVELY,

calculated pursuant to § 243M of this article. On or before June
30, of each such year, the association shall pay the
insufficiency assessment into the RESPECTIVE insufficiency
assessment reserve fund pursuant to § 243M of this article,

[(3) Following certification of the Fund's 1983
actual operating loss on or before March 15, 1984, the
association shall:

(i) Pay all moneys then remaining in the
insufficiency assessment reserve fund directly to the Fund; and

(ii) Assess and collect from member companies,
pursuant to § 243M, an amount equal to one and one-half times the
Fund's 1983 certified operating loss. On or before June 30,
1984, the association shall pay the assessment into the
insufficiency assessment reserve fund. On July 1, 1984, the
association shall pay one-third of that assessment to the Fund
and the remaining two-thirds shall be paid in three (3) equal
installments on October 1, 1984, January 1, 1985 and April 1,
1985.

(4)] (3) On or before July 1, [1985] 1986 1987 and
all subsequent years, following the annual certification and the
deposit of the annual assessment payments into the RESPECTIVE
insufficiency assessment reserve fund, the association shall pay
to the Fund, pursuant to § 243M, the entire insufficiency
assessment, exclusive of the portion of the insufficiency
allocated to the Fund. Any other moneys for prior years
remaining in the RESPECTIVE insufficiency assessment reserve fund
shall be paid to the Fund on December 31 of each year beginning

in 1984. ALL MONEYS IN THE INSUFFICIENCY ASSESSMENT RESERVE FUND
AS OF JUNE 30, 1986 1987 SHALL BE TRANSFERRED INTO THE PRIVATE
PASSENGER AUTOMOBILE RESERVE FUND AS OF JULY 1, 1986 1987 UNTIL
SUCH TIME AS A SEPARATE COMMERCIAL ASSESSMENT ALLOCATION
PERCENTAGE IS DETERMINED BY THE ASSOCIATION UNDER THIS
SUBSECTION, ALL MEMBER INSURERS WHO ELECT TO RECOUP ANY FUND
ASSESSMENT SHALL RECOUP FROM THEIR COMMERCIAL POLICYHOLDERS
THROUGHOUT THE RECOUPMENT YEAR ACCORDING TO THE ASSESSMENT
ALLOCATION PERCENTAGE MOST RECENTLY DETERMINED BY THE
ASSOCIATION.

(c) 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.

(D) Money, property, and funds available to the Fund may be
used for the general purposes of the Fund[. However,] SUBJECT TO

THE FOLLOWING CONDITIONS: