West Virginia Code 33-30-5 – State support for mine subsidence insurance fund
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(a) The Legislature may appropriate to the mine subsidence insurance fund or the Governor may grant to the fund out of the Governor's civil contingency fund an amount not to exceed $500,000 to pay claims against the fund occurring prior to the accumulation of sufficient reserve to pay such claims and to provide a reasonable reserve fund for unexpected contingencies. The board shall determine adequacy and reasonableness of the reserve.
Terms Used In West Virginia Code 33-30-5
- Board: means the state Board of Risk and Insurance Management. See West Virginia Code 33-30-3
- fund: means the fund established by this article within the office of the state Board of Risk and Insurance Management. See West Virginia Code 33-30-3
- Mine subsidence: means loss to the structure caused by lateral or vertical movement, including collapse which results therefrom, of structures from collapse of man-made underground coal mines. See West Virginia Code 33-30-3
(b) In the absence of appropriations from the Legislature or grants from the Governor's civil contingency fund, the board may advance from its insurance fund sufficient amounts to pay claims against the mine subsidence fund. Any funds advanced by the board shall be repaid to the insurance fund.