§ 16. Patient's Compensation Fund

Currency:Current through November 6, 2018
 
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(A) Authorization. Notwithstanding any other provision of this constitution to the contrary, the legislature may establish a private custodial fund to be designated the "Patient's Compensation Fund". Any deposits into a fund established pursuant to this Section are not public monies, but are self-generated, private monies to be held in trust by a board created by the legislature for the use, benefit, and protection of medical malpractice claimants and the private health care provider members. Pursuant to Article VII, Section 10(J) of this constitution, such funds shall not be defined as state general funds or dedicated funds required for deposit in the state treasury.

(B) Patient's Compensation Fund assets. The assets of a fund, when established pursuant to this Section, shall not be state property, shall not be subject to appropriation by the legislature, and shall not be required for deposit in the state treasury pursuant to Article VII, Section 9(A) of this constitution. Assets of such a fund shall consist of all surcharges collected from health care provider members and filing fees collected from claimants, all reserves to pay future claims, all interest earned upon any monies invested by the board, any securities acquired through the investment of fund monies, all earnings on such securities, and all other monies and assets deposited into the fund.

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