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

Arkansas Code — all titles (historical 2020) · legal_authorities

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

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.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 6-21-705

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.