19 Miss. Code. R. 5-4.11.2

Current through December 10, 2024
Section 19-5-4.11.2 - Funds of the Pool

Funds held by the Pool, including funds remitted by Servicing Carriers in accordance with the Reinsurance Agreements, and funds withheld pursuant to Article II, shall be kept on deposit in such banks, trust companies, or other depositories as may from time to time be designated and prescribed by the Commissioner. The Pool Administrator shall invest Pool funds only in investments of a type and quality as will qualify as fully admitted assets under the rules of the National Association of Insurance commissioners. Disbursements from Pool funds shall be made by the Pool Administrator only as authorized by the Commissioner. The Pool Administrator shall keep accurate records to identify all deposits, withdrawals, and investment of Pool funds, which records shall be available for review by the Commissioner and Chairman of the Advisory Board at any time.

19 Miss. Code. R. 5-4.11.2