Every person, firm or corporation insuring in "The State Insurance Fund" shall receive from the State Insurance Fund a contract or policy of insurance to be approved by the State Insurance Board.

Except as otherwise provided in this act all premiums shall be paid by every person, firm, or corporation who elects to insure with "The State Insurance Fund" to the Commissioner semiannually, or at such times as may be prescribed by general rule or regulation applicable to all insurers alike by the Commissioner. Receipts shall be given for such payment and the money shall be paid over to the credit of the State Insurance Fund.

Laws 1933, SB 151, c. 28, p. 64, § 1; Amended by Laws 1937, HB 69, p. 492, § 16, emerg. eff. May 14, 1937.