(1) The assets representing the long term insurance fund or the motor vehicle insurance fund shall not be applied directly or indirectly to any class of insurance business other than that in respect of which the fund was established and is maintained.
(2) Where the value of the assets in an insurance fund exceeds the amount of the liabilities attributable to the classes of insurance business referred to in section 88(2) the trustee, may, with the approval of the Registrar release the assets held in excess of the requirement of the fund.
(3) Subsection (1) shall not be construed as precluding an insurer from exchanging at fair market value, assets representing each insurance fund for other assets belonging to the insurer.
(4) An insurer incorporated in Saint Lucia carrying on long term insurance business or motor vehicle insurance business shall not declare a dividend at any time when the value of the assets of a long term insurance fund or a motor vehicle insurance fund, as the case may be, is less than the liabilities attributable to such business.