Ark. Code § 6-21-705

Current with legislation from 2024 effective through May 3, 2024.

Section 6-21-705 - Powers and duties of Insurance Commissioner

It shall be the power and duty of the Insurance Commissioner to:

(1)

(A) Establish in the State Insurance Department a program of insurance to cover motor vehicles owned by public school districts, education service cooperatives, and open-enrollment public charter schools.

(B) The program shall be in accordance with recognized and established insurance practices;

(2) Establish and, from time to time, modify the premium rates to be charged for various risks;

(3) Specify the form for insurance policies and other forms required for the purposes of this subchapter;

(4) Employ or contract for necessary officials, adjusters, appraisers, attorneys, and other personnel required in the administration of this subchapter;

(5) Engage in a loss control program to assist the public schools in improving and minimizing potential loss of life and property; and

(6) Perform all additional powers and duties necessary to maintain sound insurance underwriting practices recognized by good risk management.

Ark. Code § 6-21-705

Acts 1991, No. 824, § 5; 2003 (2nd Ex. Sess.), No. 78, § 19; 2007, No. 617, § 28.