There is hereby created an insurance or guaranty fund of the company which may be used for any of the following purposes:(a) To ensure the payment or repayment of all or any part of the principal of, redemption or prepayment premiums or penalties on, and interest on its bonds;(b) To ensure the payment or repayment of all or any part of the principal of, redemption or prepayment premiums or penalties on, and interest on any instrument executed, obtained or delivered in connection with the issuance and sale of its bonds; and(c) To pay or ensure the payment of any fees or premiums necessary to obtain insurance, guarantees or other instruments or enhancement of credit for or support from any person in connection with financing assistance provided by the company under this article including but not limited to working capital loans made by a lender.Laws, 1985, ch. 450, § 8, eff. 7/1/1985.
Mississippi Legal Code