Section 35-11-1304 - Account Created; Premiums to Be Deposited; Payment of Expenses and Claims

35-11-1304. Account created; premiums to be deposited; payment of expenses and claims. There is created a mine subsidence loss insurance account. All premiums, fees, amounts recovered under the program and, where appropriate, grants shall be deposited into this account. The legislature shall authorize expenditures by appropriation from the account as necessary to defray the administrative expenses of the program but not claims for losses under policies. The remaining funds in the account shall be used and are appropriated to pay claims for losses under insurance policies under this act.