[§468L-25]  Maintenance of qualified charter
tour client trust assets by charter tour operators.  A charter tour
operator shall regularly maintain qualified charter tour client trust assets in
an amount which is equal to or exceeds the qualified charter tour client trust
liabilities of the charter tour operator.  A charter tour operator shall be
deemed to be in substantial compliance with the provisions of this section even
if, during any twelve-month period, qualified charter tour client trust
liabilities exceed qualified charter tour client trust assets for any one, but
not more than one, quarterly reporting period applicable under section 468L-26;
provided that qualified charter tour client trust assets at all times shall be
equal to or exceed not less than ninety per cent of qualified charter tour
client trust liabilities. [L 1999, c 258, pt of §3]