§ 6619. Special reserve or emergency funds; co-operative
property/casualty insurance companies. (a) (1) Ten or more co-operative
property/casualty insurance companies may enter into an agreement to
make deposits in special reserve or emergency funds.

(2) Any deposit with accretions thereon made pursuant to any such
agreements shall be kept deposited with a solvent trust company of this
state and shall remain the property of the depositing corporations and
shall be subject to the provisions of this chapter governing the
investments of such corporations.

(b) (1) Such special reserve or emergency funds shall be subject to
examination by the superintendent in like manner as the other assets and
property of any depositing corporation and shall be used only for the
purpose of enabling any depositing corporation to comply with any
requirement of this article, and then only with the consent of at least
two-thirds of the membership of such fund in proportion to its
ownership.

(2) Loans thus authorized from such a fund may be made pursuant to
agreements as prescribed in section one thousand three hundred seven of
this chapter or in such other form as approved by the membership.

(c) Any such depositing corporation may, with the consent of the
superintendent, withdraw all or a part of its share therein, upon giving
at least thirty days notice in writing to the custodian or custodians of
such fund.