[§41D-6] Fund advancement; dissolution.
145 words·~1 min read·
/hi/41d-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§41D-6] Fund advancement; dissolution. If the state risk management revolving fund should become financially incapable of meeting its obligations under this chapter, the comptroller, in the comptroller's discretion, may:
(1)Request that the governor authorize the transfer of sufficient sums to meet the fund's obligations from whatever such savings as may be available from other current appropriation for any other state program. Money so advanced shall be repaid from the state risk management revolving fund in annual installments, without interest. The amount of installments shall be fixed by the director of finance at whatever amount as can reasonably be expected to liquidate indebtedness of the fund in not more than ten years; or
(2)Dissolve the fund, prorating remaining assets of the fund among the claimants, giving priority to those claims as, in the comptroller's discretion, is appropriate. [L 1988, c 266, pt of §1]