33-22-1321: (Temporary) State and federal special revenue accounts -- reinsurance program.

(1) (a) There is a reinsurance program account in the state special revenue fund established by 17-2-102. The account must be administered by the commissioner for the benefit of the program. The money in the reinsurance program account is statutorily appropriated, as provided in 17-7-502, to the commissioner for the purposes provided in subsection (1)(c) of this section.

(b) There must be deposited in the account:

(i) all assessments collected under 33-22-1313;

(ii) any interest and income earned on the account; and

(iii) any other money from any other source accepted for the benefit of the account.

(c) The account may be used only to provide funding for the administration, operation, and claims expenses incurred by the program created in 33-22-1302.

(2) There is an account in the federal special revenue fund to the credit of the board and administered by the commissioner for the benefit of the program. There must be deposited in the account:

(a) federal funding allocated as a result of a section 1332 waiver application;

(b) any federal or grant funding; and

(c) any interest and income earned on the account. (Terminates June 30, 2031--sec. 5, Ch. 645, L. 2025.)