Sec. 1. (a) There is created a special fund known as the residual asbestos injury fund (referred to as “the fund” in this chapter) for the purpose of providing compensation to employees who become totally and permanently disabled from an exposure to asbestos while in employment within Indiana and who are eligible for benefits under section 3 of this chapter (expired August 1, 2007, and repealed) and not eligible for benefits under IC 22-3-7. The fund shall be administered by the worker’s compensation board (referred to as “the board” in this chapter).

     (b) The fund is not a part of the general fund. Money in the fund at the end of a particular fiscal year and interest accruing from the investment of the money does not revert to the state general fund. The fund shall be used only for the payment of awards of compensation and expense of medical examinations made and ordered by the board and chargeable against the fund under this section and shall be paid for that purpose by the treasurer of state upon award or order of the board.

As added by P.L.224-1985, SEC.5. Amended by P.L.28-1988, SEC.66; P.L.3-2008, SEC.157.