(a) The Workersâ Compensation Bond Fund is hereby created. (1) Proceeds from the sale of bonds with respect to the workersâ compensation category described in subparagraph (A) of paragraph (2) of subdivision (a) of Section 1063.5 shall be deposited in a separate account in the Workersâ Compensation Bond Fund. Only CIGA, and, with respect to payment of the bonds, the trustee for the bonds, shall have the ability to authorize disbursements from the separate account within the Workersâ Compensation Bond Fund. (2) Special bond assessments levied pursuant to Section 1063.74 with respect to the workersâ compensation category shall be deposited in a separate account in the Workersâ Compensation Bond Fund and shall not be commingled with any other moneys. Only the trustee for the bonds shall have the ability to authorize disbursements from this separate account within the Workersâ Compensation Bond Fund, and CIGA shall have no right or authority to authorize disbursements from this separate account. (3) The Workersâ Compensation Bond Fund shall be maintained with the trustee for the bonds. Following payment or provision for payment of the bonds, amounts in the Workersâ Compensation Bond Fund shall be transferred to the fund that is designated in the indenture for the bonds. (4) All money in the Workersâ Compensation Bond Fund and all special bond assessments levied pursuant to Section 1063.74 with respect to the workersâ compensation category shall be used by CIGA for the exclusive purpose of carrying out the purposes of this part. Notwithstanding any other law, the Workersâ Compensation Bond Fund is not a state fund and shall not be subject to the rules or procedures of any fund in the State Treasury, and application of the fund shall not be subject to the supervision or budgetary approval of any officer or division of state government. (5) CIGA and the trustee for the bonds may, as necessary or convenient to the accomplishment of any other purpose under this article, divide the Workersâ Compensation Bond Fund into separate accounts. (b) The Homeownersâ and Automobile Bond Fund is hereby created. (1) Proceeds from the sale of bonds with respect to the homeownersâ and automobile category described in subparagraph (B) of paragraph (2) of subdivision (a) of Section 1063.5 shall be deposited in a separate account in the Homeownersâ and Automobile Bond Fund. Only CIGA, and, with respect to payment of the bonds, the trustee for the bonds, shall have the ability to authorize disbursements from the separate account within the Homeownersâ and Automobile Bond Fund. (2) Special bond assessments levied pursuant to Section 1063.74 with respect to the homeownersâ and automobile category shall be deposited in a separate account in the Homeownersâ and Automobile Bond Fund and shall not be commingled with any other moneys. Only the trustee for the bonds shall have the ability to authorize disbursements from this separate account within the Homeownersâ and Automobile Bond Fund, and CIGA shall have no right or authority to authorize disbursements from this separate account. (3) The Homeownersâ and Automobile Bond Fund shall be maintained with the trustee for the bonds. Following payment or provision for payment of the bonds, amounts in the Homeownersâ and Automobile Bond Fund shall be transferred to the fund that is designated in the indenture for the bonds. (4) All money in the Homeownersâ and Automobile Bond Fund and all special bond assessments levied pursuant to Section 1063.74 with respect to the homeownersâ and automobile category shall be used by CIGA for the exclusive purpose of carrying out the purposes of this part. Notwithstanding any other law, the Homeownersâ and Automobile Bond Fund is not a state fund and shall not be subject to the rules or procedures of any fund in the State Treasury, and application of the fund shall not be subject to the supervision or budgetary approval of any office
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