22-5127. MINIMUM BALANCE FOR CLAIMS — TERMINATION OF LIABILITY. No claims of producers shall be paid when the balance in the seed indemnity fund is reduced to two hundred fifty thousand dollars ($250,000). If the director cannot fully pay producers’ claims without exceeding the minimum balance, he shall pay claims pro rata until the seed indemnity fund contains sufficient funds to pay claims in full. In no case shall the fund be liable for those claims not fully paid within three (3) years of submission of the claim.
History:
[22-5127, added 2002, ch. 256, sec. 1, p. 746.]