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(a) There is established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the State Insurance Department Trust Fund to be used to:
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(1) Defray the expenses of the State Insurance Department in the discharge of its administrative and regulatory powers and duties as prescribed by law;
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(2) Defray the administrative expenses and losses incurred by the Arkansas Comprehensive Health Insurance Pool or its successor; and
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(3) Fund capital expenditures and training for fire departments certified by the Arkansas Department of Emergency Management.
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(b) No money is to be appropriated from this fund for any purpose except:
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(1) As provided in subsection (a) of this section;
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(2) For the personal services and operating expenses, maintenance and operations, and support of and improvements to the State Insurance Department; or
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(3) At the direction of the Insurance Commissioner for the use, benefit, and support of the State Insurance Department.
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(c) The fund established pursuant to this section shall be administered, disbursed, and invested under the direction of the commissioner and the Treasurer of State.
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(d) All income derived through grants, refunds, and gifts to the fund shall be credited as income to the fund and deposited therein.
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(e) Further, all moneys deposited to the fund shall not be subject to any deduction, tax, levy, or any other type of assessment except as may be provided in this subchapter.
