(a) All fees, license fees, and additional or increased license or registration fees, fines, penalties, and revenues provided for in this subchapter received as special revenues for the State Insurance Department Trust Fund and deposited therein shall be deemed for all purposes revenues of the State Insurance Department Trust Fund and of the State Insurance Department for the sole support, operation, and maintenance of the department, and, when paid into the State Treasury by the Insurance Commissioner, shall be maintained by the State Treasury as the State Insurance Department Trust Fund, separate from all other funds, and available only for the payment of the expenses of the department pursuant to the appropriations therefor.(b) The Auditor of State shall, upon proper voucher from the commissioner, issue his or her warrant on the Treasurer of State in payment of all salaries and other expenses incurred in the administration of this subchapter.(c) The commissioner shall at the end of each biennium period cause to be transferred into the General Revenue Fund Account of the State Apportionment Fund the excess of the State Insurance Department Trust Fund moneys over an amount equal each biennium period cause to be transferred into the General Revenue Fund Account of the State Apportionment Fund the excess of the State Insurance Department Trust Fund moneys over an amount equal to one (1) fiscal-year budget for the department.Amended by Act 2015, No. 871,§ 28, eff. 4/1/2015.Acts 1993, No. 652, § 11; 1993, No. 901, § 46.
Arkansas Legal Code