§4–209.

    (a)    Payment to the initial guaranty fund shall be:

        (1)    Made in money; and

        (2)    Evidenced by transferable deferred payment certificates.

    (b)    The approval of the Commissioner is required as to:

        (1)    The form of the transferable deferred payment certificates;

        (2)    The rate of interest that the holder of a certificate will be entitled to receive; and

        (3)    The terms under which and the pro rata installments by which the holder of a certificate will be repaid.