(1) Upon thirty (30) days’ notice to interested parties, the Commissioner may close any accounts established under this chapter. Any funds in the accounts or any other funds collected and received by the administrator or trustee of the temporary joint underwriting association established under Section 83-36-5 shall be paid to the State Treasurer for deposit in the State General Fund.
(2) Upon accounting to the Commissioner and disbursement of funds as provided in subsection (1) of this section, all past and present directors of the association shall be relieved from any liability concerning the funds and other provisions of this chapter.