Section 6-20-1512 - Disposition of funds

All funds received by the State Insurance Department as premiums, adjustments, earnings, and the like, as provided in this subchapter, shall be deposited into the Public School Insurance Trust Fund and used for the following purposes, listed in a descending order of priority:(1) To defray administrative costs;(2) To pay claims; and(3) To maintain the Public School Insurance Trust Fund.Acts 1973, No. 380, § 13; A.S.A. 1947, § 80-3521; Acts 2003 (2nd Ex. Sess.), No. 78, § 11; 2007, No. 738, § 13.