Section 11-42-706 - Validation of prior guaranty fund or reserve fund proceedings(1) Subject to Subsection (2), all proceedings before April 30, 2007 related to the creation, maintenance, and use of a guaranty fund or reserve fund are validated, ratified, and confirmed.(2) Nothing in this section may be construed to affect the validity of a guaranty fund or reserve fund whose legality is being contested on April 30, 2007.Enacted by Chapter 329, 2007 General Session.