Common use of Program Investment accounts Clause in Contracts

Program Investment accounts. The Program shall maintain various investment accounts in compliance with MMIA’s Investment Policy. Unencumbered Reserves in these accounts may be used for the following purposes:  May be credited against future assessments;  May be used to increase the joint deductible reserve;  May be payable to each Member Entity on termination of the Program.

Program Investment accounts. The Program shall maintain various investment accounts in compliance with MMIA’s Investment Policy. Unencumbered Reserves in these accounts may be used for the following purposes:  May be credited • To pay premiums, in whole or in part, for any insurance, re-insurance or excess insurance due by the Authority; • As a credit against future assessmentsAssessments owed by Member Entities to the Authority;  May be used to increase the joint deductible reserve;  May be payable and • As a payment to each Member Entity on termination of the Program.

Program Investment accounts. The Program shall maintain various investment accounts in compliance with MMIA’s Investment Policy. Unencumbered Reserves in these accounts may be used for the following purposes:  May be credited against future assessmentsTo pay premiums, in whole or in part, for any insurance, re -insurance or excess insurance due by the Authority;  May be used As a credit against Assessments owed by Member Entities to increase the joint deductible reserveAuthority; and  May be payable As a payment to each Member Entity on termination of the Program.

Program Investment accounts. The Program shall maintain various investment accounts in compliance with MMIA’s Investment Policy. Unencumbered Reserves in these accounts may be used for the following purposes:  • May be credited against future assessments;  • May be used to increase the joint deductible reserve;  • May be payable to each Member Entity on termination of the Program.