The accounts created in N.C. Gen. Stat. § 58-48-115 and N.C. Gen. Stat. § 58-48-120 shall be used to pay the claims against insolvent stock workers’ compensation insurers and insolvent mutual workers’ compensation insurers, respectively, pursuant to N.C. Gen. Stat. § 58-48-110(4) where the insolvency occurred prior to January 1, 1993. The expenses of administering these accounts, including loss adjustment expenses, shall be paid out of the respective accounts. (1991 (Reg. Sess., 1992), c. 802, s. 10; 1993, c. 504, s. 30.)