1. (a) A political subdivision may become a member of the fund by filing a written notice of its intent to become a member with the commission by the latter of the following dates:

   1. (1) December 31, 1987.
   2. (2) The date exactly six (6) months before the expiration date of the liability insurance policy covering the political subdivision on December 31, 1987.
2. (b) Each political subdivision that files a notice of intent to become a member by the latter of the two (2) dates set forth in subsection (a) shall be granted membership in the fund. A political subdivision that files a notice of intent to become a member after the latter of the two
3. (2) dates set forth in subsection (a) may be admitted to or rejected for membership in the fund at the discretion of the commission.

As added by P.L.272-1987, SEC.7.