§ 85A-28. Workers' Compensation Fund - Multiple Injury Trust Fund - Self-Insured Guaranty Fund.

A.  There are established within the Office of the State Treasurer three separate funds:

1.  The "Workers' Compensation Fund";

2.  The "Multiple Injury Trust Fund"; and

3.  The "Self-Insured Guaranty Fund".

B.  No money shall be appropriated from these funds for any purpose except for the use and benefit, or at the direction, of the Commission.

C.  All funds established under this section shall be administered, disbursed, and invested under the direction of the Commission and the State Treasurer.

D.  All incomes derived through investment of the Workers' Compensation Fund and the Multiple Injury Trust Fund shall be credited as investment income to the fund that participated in the investment.

E.  No monies deposited to these funds shall be subject to any deduction, tax, levy, or any other type of assessment.

F.  If the balance in the Multiple Injury Trust Fund becomes insufficient to fully compensate those employees to whom it is obligated, payment shall be suspended until such time as the Multiple Injury Trust Fund is capable of meeting its obligations, paying all arrearages, and restoring normal benefit payments.

G.  On the effective maturity dates of each investment, the investment shall be transferred to the State Treasurer for deposit into the Multiple Injury Trust Fund created in this section.

H.  The Workers' Compensation Fund shall be used to fund the activities of the Commission in administering this act and for any other purposes related to this act that the Commission deems appropriate, subject to the provisions of Section 165 of this act.

I.  Unless provided otherwise in this act, all fines and penalties assessed under this act shall be deposited into the Workers' Compensation Fund.

Added by Laws 2013, c. 208, § 28, eff. Feb. 1, 2014.