Section 6. The fund administrator shall operate the fund in accordance with this chapter and maintain the fund at a level which is commensurate with claims anticipated to be made against it. All monies collected shall be deposited to the credit of the fund into a special interest bearing account to be administered by the fund administrator who shall invest or reinvest the money of the fund. No portion of monies in said account shall be used for the administration of the fund, except as required by this paragraph. Interest accruing from investment of money in the fund shall be credited to the fund, with a portion of the interest, the amount of which shall be determined by the fund administrator, to be applied to educating consumers, contractors and others as to the requirements of this chapter.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title XX - Public Safety and Good Order
Chapter 142a - Regulation of Home Improvement Contractors
Section 2 - Residential Contracting Agreements; Requirements
Section 3 - Civil Actions; Private Arbitration Program
Section 4 - Arbitration; Appeals
Section 5 - Residential Contractor's Guaranty Fund; Regulations
Section 6 - Operation of Fund; Deposits; Interest; Use of Funds
Section 7 - Claims Against Fund; Award Limitations
Section 9 - Registration of Contractors or Subcontractors
Section 10 - Registration Applications; Required Information
Section 11 - Registration Fees
Section 12 - Denial of Registration Applications; Grounds; Requests for Reconsideration
Section 13 - Registration Records; Building Permits, Contracts and Advertisements
Section 14 - Exemption From Registration
Section 15 - Suspension or Revocation of Certificate of Registration
Section 16 - Promulgation of Rules and Regulations by Director
Section 17 - Contractors or Subcontractors; Prohibited Acts; Violations
Section 18 - Administrative Penalties for Violations of Chapter Provisions
Section 19 - Fines and Imprisonment
Section 20 - Continuing Violations; Injunctions; Restitution