§ 19-5-922 - State Insurance Department Trust Fund. - Arkansas Statutes

19-5-922. State Insurance Department Trust Fund.

(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the "State Insurance Department Trust Fund".

(b) (1) The fund shall consist of those special revenues specified in 19-6-301(172), grants, refunds, gifts, and any remaining funds of the Arkansas Earthquake Authority as provided in 23-102-119 and examination of insurers' payments as set out in 23-61-201 -- 23-61-206.

(2) The fund shall be used:

(A) To defray the expenses of the State Insurance Department in the discharge of its administrative and regulatory powers and duties as prescribed by law and as set out in 23-61-701 et seq.;

(B) To defray the administrative expenses and losses incurred by the Arkansas Comprehensive Health Insurance Pool, 23-79-501 et seq., or its successor; and

(C) To fund capital expenditures and training for fire departments certified by the Arkansas Department of Emergency Management.