(a) There is hereby authorized to be established, out of any money in the Treasury of Guam not otherwise appropriated, a fund sufficient to secure the payment of benefits under this Chapter in respect of employees in public employment.

(b) With respect to employees in public employment, the Commission may authorize direct benefit payments from such fund, or, if it deems desirable, insure and keep insured the payment of such benefits with any stock or mutual company or association.

(c) Prior to any lump sum payment of compensation pursuant to § 9115(j) of this Chapter, the Commission must certify that an amount equal to the lump sum payable is deposited into the Government of Guam Special Fund by the respective public employment employer of the employee who is to receive the lump sum payment.

(d) All public employment employers shall reimburse the Government of Guam Special Fund such sums as may be necessary from their annual operational appropriations or revenues for the compensation paid to their employees or dependents pursuant to this Chapter.

(e) Reimbursements into the Government of Guam Special Fund pursuant to Subsection (d) of this Section shall be made within fourteen (14) days of receipt of each assessment demand by the Commission for amounts equal to the amount paid pursuant to this Chapter, except when the Commission deems it advisable that the public employment employer make a deposit into the Government of Guam Special Fund prior to payment of compensation.

(f) The Treasurer of Guam shall be the custodian of such fund and is authorized to disburse moneys from such fund only upon the order of the Commission. The Treasurer of Guam shall

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deposit any moneys appropriated or paid into such fund into such depository banks as the Commission may designate, and may invest any portion of the funds which in the opinion of the Commission is not needed for current requirements, in bonds or notes of the United States or of any Federal land bank.

(g) The account for such fund shall be subject to audit in accordance with the established government of Guam auditing procedure, but action of the Commission in making payments from such fund shall be final and not subject to review.

SOURCE: GC § 37042. Repealed and reenacted by P.L. 25-091:IV:05 (Dec. 22, 1999).