When the total amount of the payments provided for in the preceding section, together with accumulated interest and earnings, equals or exceeds one million dollars no further contributions to the fund shall be required; but when, thereafter, the amount of the sum is reduced below five hundred thousand dollars by reason of payments made to employees pursuant to this division, contributions shall be resumed and shall continue until the sum, together with accumulated interest and earnings, again amounts to one million dollars. The treasurer of state shall determine when contributions shall be made to the fund and when they shall be suspended and may enforce the collection of contributions.
Moneys so collected shall constitute a "Second Injury Fund", in the custody of the treasurer of state, to be disbursed only for the purposes stated in this division, and shall not at any time be appropriated or diverted to any other use or purpose. The treasurer of state shall invest any surplus moneys of the fund in securities which constitute legal investments for state funds under the laws of this state, and may sell any of the securities in which the fund is invested, if necessary, for the proper administration or in the best interests of the fund. Disbursements from the fund shall be paid by the treasurer of state only upon the written order of the industrial commissioner. The treasurer of state shall quarterly prepare a statement of the fund, setting forth the balance of moneys in the fund, the income of the fund, specifying the source of all income, the payments out of the fund, specifying the various items of payments, and setting forth the balance of the fund remaining to its credit. The statement shall be open to public inspection in the office of the treasurer of state.
[C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 85.66; 82 Acts, ch 1161, § 21]
83 Acts, ch 105, § 5; 90 Acts, ch 1071, § 1
Referred to in § 86.12
Iowa General Assembly
Search: Iowa Code 1997
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