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21-2-710. Billing certification — Payment and deposit.
Arkansas Code — all titles (historical 2020) · legal_authorities
21-2-710. Billing certification — Payment and deposit.
(a) The Governmental Bonding Board, with the assistance of the State Insurance Department, shall prepare a billing certification to be remitted to the:
(1)(A) Department of Finance and Administration. Upon receipt of this certification, the Secretary of the Department of Finance and Administration shall pay it from funds specifically appropriated for it by the General Assembly or from other funds available therefor.
(B) Funds so appropriated for premiums for fidelity bonds for state public officials and employees and state officers and employees or funds otherwise made available for this purpose shall not be subject to reduction as a result of any shortfall of projected revenues; and
(2) Chief Fiscal Officer of the State who shall pay it from funds withheld from the:
(A) County Aid Fund which are due each county participating in the Self-Insured Fidelity Bond Program for premiums for fidelity bonds for county public officials and employees;
(B) Municipal Aid Fund which are due each municipality participating in the program for premiums for fidelity bonds for municipal public officials and employees; and
(C) Public School Fund which are due each school district participating in the program for premiums for fidelity bonds for school district officials and employees.
(b) Upon receipt of these funds, the Insurance Commissioner shall deposit them in the Fidelity Bond Trust Fund.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 21-2-710
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:21-2-710
Source file: gov.ar.code.title.21.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f4b2ed1f6ecc3a869d4c224c2b39f8f5dc0fa0bb4f506a6bae87834f8267f09e
Source location: content.xml paragraph 1351
Stored source content
21-2-710. Billing certification — Payment and deposit.
(a) The Governmental Bonding Board, with the assistance of the State Insurance Department, shall prepare a billing certification to be remitted to the:
(1)(A) Department of Finance and Administration. Upon receipt of this certification, the Secretary of the Department of Finance and Administration shall pay it from funds specifically appropriated for it by the General Assembly or from other funds available therefor.
(B) Funds so appropriated for premiums for fidelity bonds for state public officials and employees and state officers and employees or funds otherwise made available for this purpose shall not be subject to reduction as a result of any shortfall of projected revenues; and
(2) Chief Fiscal Officer of the State who shall pay it from funds withheld from the:
(A) County Aid Fund which are due each county participating in the Self-Insured Fidelity Bond Program for premiums for fidelity bonds for county public officials and employees;
(B) Municipal Aid Fund which are due each municipality participating in the program for premiums for fidelity bonds for municipal public officials and employees; and
(C) Public School Fund which are due each school district participating in the program for premiums for fidelity bonds for school district officials and employees.
(b) Upon receipt of these funds, the Insurance Commissioner shall deposit them in the Fidelity Bond Trust Fund.
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