§386A-3  Fund's purpose.  The fund's
purpose is to sell workers' compensation insurance at the lowest actuarially
responsible price as determined by the fund's board.  The fund shall commence
operation upon appointment and qualification of the initial five members of the
fund's board, but the workers' compensation insurance sold initially by the
fund shall provide insurance coverage for work injuries occurring from a date
to be established by the board and not more than one year from the date of the
appointment 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 insurance
carriers. [L 1985, c 296, pt of §11; am L 1989, c 277, §4]