As Amended
SEC. 27-104-31. Powers and duties of Executive Director of the Department of Finance and Administration acting through insurance division.
(1) The State Fiscal Officer shall have the following powers and duties, acting through the Insurance Division:
(a) To implement and administer a comprehensive risk management program for all state agencies, including but not limited to the areas of employee health and life insurance, liability insurance and workers' compensation insurance;
(b) To coordinate and administer the State Employees Life and Health Plan as defined in Section 25-15-3;
(c) To coordinate and administer the Employment Compensation Revolving Fund for state agencies as directed in Section 71-5-359 (2)(c);
(d) To coordinate and administer the liability plans authorized in Section 11-46-17;
(e) To coordinate and administer the workers' compensation plan for state agencies as a self-insured program and to determine the feasibility of other self-insured programs for state agencies;
(f) To require of state agencies premium payments or contributions to self-insurance funds or both necessary to meet the obligations created by the comprehensive risk management program. Such self-insurance fund created shall be maintained as separate special funds in the State Treasury or in authorized bank accounts. Such funds as required shall be used to pay claims under the workers' compensation self-insurance fund. All such funds shall be exempt from the appropriation process. All interest earned from the investment of monies in the funds shall be credited to the appropriate special fund. Monies remaining in such special funds at the end of the fiscal year shall not lapse into the State General Fund;
(g) To promulgate and adopt rules and regulations necessary to effect the provisions of a comprehensive risk management program;
(h) To pay such administrative costs necessary to insure the successful operation of each program administered by the insurance division. Such administrative costs shall include the operating expenses of the division. Each program shall be assessed their proportionate share of those operating expenses;
(i) To coordinate and administer the Public School Employees Health Insurance Plan as defined in Section 25-15-251; and
(j) To require of state agencies, institutions of higher learning, school districts and community/junior colleges, premium payments or contributions, or both, to self-insurance funds that are necessary to meet the obligations created by the State Employees Life and Health Insurance Plan and the Public School Employees Health Insurance Plan. The self-insurance fund created shall be maintained as separate special funds in the State Treasury or in authorized bank accounts. These funds shall be used to pay claims under the Public School Employees Insurance Fund and the State Employees Insurance Fund. All interest earned from the investment of monies in the funds shall be credited to the appropriate special fund. Monies remaining in the special funds at the end of the fiscal year shall not lapse into the State General Fund.
(2) The State Fiscal Officer shall not have the power or authority to request that bonds be issued or any funds borrowed in order to implement a comprehensive risk management program or plan of self-insurance for the state, or any of its political subdivisions, or to contribute to the Tort Claims Fund.
SOURCES: Laws, 1988, ch. 479, Sec. 1; 1989, ch. 532, Sec. 64. Laws, 1991, ch. 505 Sec. 1; 1993, ch. 392, Sec. 1; 1994, ch. 615, Sec. 8, eff from and after July 1, 1994