Insurance Law 7601 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up ARTICLE 76 Property/casualty Security Funds next SECTION 7602 Definitions Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7601 Property/casualty insurance security fund; public motor vehicle liability security fund Insurance (ISC) CHAPTER 28, ARTICLE 76 § 7601. Property/casualty insurance security fund; public motor vehicle liability security fund. (a) The property and liability insurance security fund is continued and shall hereafter be known as "the property/casualty insurance security fund". (b) The public motor vehicle liability security fund is continued. (c) The property/casualty insurance security fund shall consist of all payments made to it by insurers and of securities acquired by and through the use of moneys belonging to it, together with interest and accretions earned upon such payments or investments earned prior to January first, nineteen hundred seventy-four. (d) The public motor vehicle liability security fund shall consist of all payments made to it by insurers and of securities acquired by and through the use of moneys belonging to it, together with interest and accretions earned upon such payments or investments. (e) Each fund shall be administered separately by the superintendent in accordance with this article.