§ 58-48-105. Transfer of balance of security funds. - North Carolina Statutes

§58‑48‑105.  Transfer of balance of security funds.

(a)        All moneys receivedand paid into the Stock Workers' Compensation Security Fund under former G.S.97‑107, together with all property and securities acquired by and throughthe use of moneys belonging to this Fund, including interest earned upon moneysin this Fund, shall be transferred and deposited into a new account with theAssociation created pursuant to G.S. 58‑48‑115. This account shallbe separate and apart from any other accounts similarly created and from allother Association funds. The Association shall be the custodian of the account,and shall administer the account in accordance with the provisions of thisArticle.

(b)        All moneys receivedand paid into the Mutual Workers' Compensation Security Fund under former G.S.97‑114, together with all property and securities acquired by and throughthe use of moneys belonging to this Fund, including interest earned upon moneysin this Fund, shall be transferred and deposited into a new account with theAssociation created pursuant to G.S. 58‑48‑120. This account shallbe separate and apart from any other accounts similarly created and from allother Association accounts. The Association shall be the custodian of theaccount, and shall administer the account in accordance with the provisions ofthis Article. (1991 (Reg. Sess., 1992), c. 802, s. 6.)