(a) The Insurance Commissioner, at the direction of the Governmental Bonding Board, shall receive and disburse funds necessary for the establishment and operation of the Self-Insured Fidelity Bond Program.(b) The State Risk Manager shall assist in the operations of the program and shall submit to the board recommendations for the establishment of: (1) Premium schedules for all participating governmental entities;(2) Schedules for deductible amounts;(3) Loss histories, loss reporting, and loss payment procedures;(4) Program enrollments;(5) Annual review of funds income, balances, and expenditures;(6) Proposed invitations to bid, and retention levels, if the board determines that excess bonds or reinsurance is necessary; and(7) Other information required by the board for efficient operation of the program.Acts 1987, No. 728, § 10. (a) The Insurance Commissioner, at the direction of the Governmental Bonding Board, shall receive and disburse funds necessary for the establishment and operation of the Self-Insured Fidelity Bond Program.(b) The State Risk Manager shall assist in the operations of the program and shall submit to the board recommendations for the establishment of: (1) Premium schedules for all participating governmental entities;(2) Schedules for deductible amounts;(3) Loss histories, loss reporting, and loss payment procedures;(4) Program enrollments;(5) Annual review of funds income, balances, and expenditures;(6) Proposed invitations to bid, and retention levels, if the board determines that excess bonds or reinsurance is necessary; and(7) Other information required by the board for efficient operation of the program.Acts 1987, No. 728, § 10.
Arkansas Legal Code