§386A-3  Fund's purpose.  The fund'spurpose is to sell workers' compensation insurance at the lowest actuariallyresponsible price as determined by the fund's board.  The fund shall commenceoperation upon appointment and qualification of the initial five members of thefund's board, but the workers' compensation insurance sold initially by thefund shall provide insurance coverage for work injuries occurring from a dateto be established by the board and not more than one year from the date of theappointment and qualification.

The fund may serve as a model for the workers'compensation insurance industry to determine minimum insurance premium rates. It shall be competitive with other private workers' compensation insurancecarriers. [L 1985, c 296, pt of §11; am L 1989, c 277, §4]