§ 20-506. Reserves for payment of claims

Latest version.

   (a) In general. -- The Executive Director shall:

   (1) establish and maintain reasonable and adequate reserves for payment of claims against the Fund; and

   (2) use the same criteria as is required for use by an Association member in determining the amount of reserves that are necessary.

(b) Review by Board of Trustees. -- At least annually, the Board of Trustees shall review the reasonableness and adequacy of reserves.

HISTORY: An. Code 1957, art. 48A, § 243F; 1996, ch. 11.

                    
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