§488-4  Accumulated funds, protection,
violation.  Any plan which accumulates funds prior to the payment of such
funds to the persons providing legal services shall meet the requirements of
this section.



The plan administrator shall obtain a bond in
an amount and form approved by the department which shall be executed by the
plan administrator and a surety company authorized to do business in the State
as a surety.  The bond shall be to the benefit of the members of the plan and
shall be filed with the department.  In lieu of the bond required by this
section, the department shall accept letters of credit, certificates of
deposits, or other evidences of security in form and amounts deemed appropriate
by the department. [L 1976, c 156, pt of §1; am L 1992, c 78, §2]