Arkansas Code Title 6, Subtitle 2, Chapter 20, Subchapter 15 - Public Elementary and Secondary School Insurance Act

• § 6-20-1501 - Title.
  This subchapter shall be known as the "Public Elementary and Secondary School Insurance Act".
• § 6-20-1502 - Establishment of Insurance System.
  The purpose of this subchapter is to establish and maintain a system of insurance for the public elementary and secondary schools, education service cooperatives,...
• § 6-20-1503 - State Insurance Department -- Powers and Duties Regarding Insurance for Public Elementary and Secondary Schools.
  It shall be the power and duty of the State Insurance Department to: (1) Adopt such rules and regulations as may be necessary to...
• § 6-20-1504 - [Repealed.]
• § 6-20-1505 - Information to Be Furnished.
  (a) The Director of the Risk Management Division of the State Insurance Department, with the approval of the Insurance Commissioner, shall require school district...
• § 6-20-1506 - Finding of Uninsurability -- Effect.
  (a) (1) The State Insurance Department is authorized to maintain an inspection and engineering service and a training program designed to reduce the hazards...
• § 6-20-1507 - Premium Rate and Payment.
  (a) The premium rate shall be actuarially sound.(b) School districts, education service cooperatives, or open-enrollment public charter schools shall make payment of premium when...
• § 6-20-1508 - Appraisal and Payment of Losses.
  (a) In the event of loss of school district, education service cooperative, or open-enrollment public charter school property under the Public Elementary and Secondary...
• § 6-20-1509 - Effect of Federal Assistance.
  Any school district, education service cooperative, or open-enrollment public charter school that may receive financial assistance from the federal government as a result of...
• § 6-20-1510 - [Repealed.]
• § 6-20-1511 - Permanent Insurance Reserve Fund.
  The General Assembly shall provide a Permanent Insurance Reserve Fund of not less than two million dollars ($2,000,000) on a loan basis for the...
• § 6-20-1512 - Disposition of Funds.
  All funds received by the State Insurance Department as premiums, adjustments, earnings, and the like, as provided in this subchapter, shall be deposited into...
• § 6-20-1513 - Bond Obligations.
  (a) The State Insurance Department is authorized and directed to meet legal requirements with reference to coverage on buildings as a result of school...
• § 6-20-1514 - Investments.
  (a) The State Insurance Department is authorized to invest funds of the Public Elementary and Secondary School Insurance Program.(b) Funds of the program may...
• § 6-20-1515 - Annual Reports.
  The State Insurance Department shall report annually to the Governor and the General Assembly on the status of the Public Elementary and Secondary School...

Last modified: November 15, 2016