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specific action setting aside the money prior to incurring any | | obligation to be met in whole or in part in such a manner. Except | | when the insurance fund makes use of money available to it under | | section 2315, subsection 7, the governing board may not incur any | | obligation prior to the allotment of money by the party states | | adequate to meet the obligation. |
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| | | 5.__Records. The governing board shall keep accurate accounts | | of all receipts and disbursements. The receipts and disbursements | | of the insurance fund are subject to audit and accounting | | procedures established under its bylaws. All receipts and | | disbursements of funds handled by the insurance fund must be | | audited yearly by a certified or licensed public accountant, and | | a report of the audit must be included in and become part of the | | annual report of the insurance fund. |
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| | | 6.__Inspection of accounts. The accounts of the insurance fund | | must be open at any reasonable time for inspection by duly | | authorized officers of the party states and by any persons | | authorized by the governing board. |
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| | | §2321. Entry into force and withdrawal -- Article X |
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| | | This compact enters into force when enacted into law by 5 or | | more states. Thereafter, this compact becomes effective, as to | | any other state, upon that state's enactment thereof. |
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| | | Any party state may withdraw from this compact by enacting a | | statute repealing the same, but no withdrawal may take effect | | until 2 years after the executive head of the withdrawing state | | has given notice in writing of the withdrawal to the executive | | heads of all other party states. No withdrawal affects any | | liability already incurred by or chargeable to a party state | | prior to the time of the withdrawal. |
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| | | §2322. Construction and severability -- Article XI |
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| | | This compact must be liberally construed so as to effectuate | | the purposes thereof. This compact is severable and if any | | phrase, clause, sentence or provision of this compact is declared | | to be contrary to the constitution of any state or of the United | | States, or the applicability thereof to any government, agency, | | person or circumstance is held invalid, the validity of the | | remainder of this compact and the applicability thereof to any | | government, agency, person or circumstance may not be affected | | thereby. If this compact is held contrary to the constitution of | | any state participating herein, the compact remains in full force | | and effect as to the remaining party states and in full force and | | effect as to the state affected as to all severable matters. |
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