§ 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 the Self-Insured Fidelity Bond Program.

(b) The State Risk Manager shall assist in the operations of the program and shall submit to the board recommendations for the establishment of:

1. (1) Premium schedules for all participating governmental entities;

2. (2) Schedules for deductible amounts;

3. (3) Loss histories, loss reporting, and loss payment procedures;

4. (4) Program enrollments;

5. (5) Annual review of funds income, balances, and expenditures;

6. (6) Proposed invitations to bid, and retention levels, if the board determines that excess bonds or reinsurance is necessary; and

7. (7) Other information required by the board for efficient operation of the program.