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This entry was published on 2014-09-22
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SECTION 7606
Determination of net value of funds; limits
Insurance (ISC) CHAPTER 28, ARTICLE 76
§ 7606. Determination of net value of funds; limits. (a) The
superintendent shall annually, on or before March first, ascertain and
determine the net value of each fund as of the next preceding December
thirty-first by deducting from the value of the assets of each fund,
ascertained pursuant to this article, the aggregate actual and estimated
liabilities of each fund as determined by the superintendent. When the
net value of a fund, as thus determined, reaches an amount equal to
fifteen percent of the outstanding claim reserves of all authorized
insurers, incurred under policies or bonds providing benefits as
specified in subsection (a) of section seven thousand six hundred three
or subsection (a) of section seven thousand six hundred four of this
article, as the case may be, no further contributions to such fund shall
be required to be made.

(b) Whenever, thereafter, the amount of a fund is reduced below such
fifteen percent, by reason of payments from, and known and estimated
liabilities of, that fund, then contributions to such fund shall be
resumed and continued until that fund, over and above its known and
estimated liabilities, reaches such amount.