Arkansas Code Title 21, Chapter 2, Subchapter 7 - Self-Insured Fidelity Bond Program

• § 21-2-701 - Purpose.
  It is found and determined that: (1) The State of Arkansas and the counties, municipalities, and school districts of the State of Arkansas are...
• § 21-2-702 - Definitions.
  As used in this subchapter: (1) "Audit" or "audit report" means an audit or other statutorily allowed financial examination of the books and records;...
• § 21-2-703 - Coverage in Lieu of Statutory Bonds.
  (a) (1) The fidelity bond coverage provided under this subchapter shall be in lieu of all statutorily required bonds for the various public officers,...
• § 21-2-704 - Establishment -- Scope of Coverage.
  (a) There is established a Self-Insured Fidelity Bond Program for state officials and employees, county officials and employees, municipal officials and employees, and school...
• § 21-2-705 - Governmental Bonding Board.
  (a) There is created the Governmental Bonding Board, which shall be composed of the following five (5) members: (1) The President of the Association...
• § 21-2-706 - Administration.
  It shall be the responsibility of the Governmental Bonding Board to develop and administer the Self-Insured Fidelity Bond Program for state officers and employees,...
• § 21-2-707 - Operations and Recommendations.
  (a) The Insurance Commissioner, at the direction of the Governmental Bonding Board, shall receive and disburse funds necessary for the establishment and operation of...
• § 21-2-708 - Notice and Proof of Losses -- Investigations -- Restitution.
  (a) The Legislative Auditor, with the approval of the Legislative Joint Auditing Committee, shall give notice and make proof of loss to the Governmental...
• § 21-2-709 - Determination of Coverage -- Assignment of Rights.
  (a) (1) (A) Upon the receipt of the proof of loss from the Legislative Auditor, the Governmental Bonding Board shall determine whether the loss...
• § 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)...
• § 21-2-711 - Fidelity Bond 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...

Last modified: November 15, 2016