Iowa Code 85.66 – Second injury fund — creation — custodian
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1. The second injury fund is hereby established under the custody of the treasurer of state and shall consist of payments to the fund as provided by this subchapter and any accumulated interest and earnings on moneys in the second injury fund.
Terms Used In Iowa Code 85.66
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. The treasurer of state is charged with the conservation of the assets of the second injury fund. Moneys collected in the second injury fund shall be disbursed only for the purposes stated in this subchapter, and shall not at any time be appropriated or diverted to any other use or purpose. Disbursements from the fund shall only be paid by the treasurer of state for reimbursements pursuant to section 85.67, for payments pursuant to section 85.67A, or upon the written order of the workers’ compensation commissioner. 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.
3. 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.