Section 119: Use of reserve fund
63 words·~1 min read·
/ma/part-i/title-xxii/chapter-161/119·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 119. Whenever the income of the company is insufficient to meet the cost of service as defined in section one hundred and sixteen, the reserve fund shall be used, so far as necessary, to make up the deficiency, but when the income exceeds the cost of the service, the excess shall be transferred to and become a part of the reserve fund.