(a) Payment to the initial guaranty fund shall be: (1) Made in money; and (2) Evidenced by transferable deferred payment certificates. (b) The approval of the Commissioner is required as to: (1) The form of the transferable deferred payment certificates; (2) The rate of interest that the holder of a certificate will be entitled to receive; and (3) The terms under which and the pro rata installments by which the holder of a certificate will be repaid.
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