(A) There is hereby created a special fund to be known as the Victim Compensation Fund for the purpose of providing for the payment of all necessary and proper expenses incurred by the operation of the fund and the payment of claims. The State Treasurer is the custodian of the fund and all monies in the fund are held by the State Treasurer.
(B) The funds placed in the Victim Compensation Fund shall consist of all money appropriated by the General Assembly, if any, for the purpose of compensating claimants under this article and money recovered on behalf of the State pursuant to this article by subrogation or other action, recovered by court order, received from the federal government, received from additional court costs, received from assessments or fines, or received from any other public or private source, pursuant to this article.
(C) All administrative costs of this article, except the director's salary, must be paid out of money collected pursuant to this article which has been deposited in the fund.
(D) Interest earned on all monies held in the fund shall be remitted to the general fund of the State.
HISTORY: 1982 Act No. 455, Section 2; 1984 Act No. 489, Section 1; 1984 Act No. 512, Part II, Section 73; 2017 Act No. 96 (S.289), Section 5.L, eff July 1, 2017.
Effect of Amendment
2017 Act No. 96, Pt. II, Section 5.L, redesignated the paragraph identifiers; in (A), substituted "Victim Compensation Fund" for "Victim's Compensation Fund" and "fund" for "Victim's Compensation Fund"; in (B), substituted "Victim Compensation Fund" for "Victim's Compensation Fund"; in (C), substituted "fund" for "Victim's Compensation Fund"; in (D), substituted "fund" for "Victim's Compensation Fund"; and made nonsubstantive changes.