A college teacher making the election provided for in section 15-39.2-06 shall make the payment of the required assessments for the period prior to the election by a single sum payment in the manner provided for by the board of trustees of the teachers' fund for retirement. Payment of the required assessments for the period after the election must be made in the manner provided for in section 15-39.1-09.
N.D.C.C. § 15-39.2-07