§ 19-5-1159 — Arkansas Self-Funded Cyber Response Program Trust Fund

Arkansas § 19-5-1159

• Jurisdiction: Arkansas
• Title: 19

Text

(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a trust fund to be known as the "Arkansas Self-Funded Cyber Response Program Trust Fund". (b) The fund shall consist of: (1) All moneys received by the Arkansas Cyber Response Board for the Arkansas Self-Funded Cyber Response Program, including: (A) Premiums collected by the Arkansas Cyber Response Board under this subchapter; and (B) Restitution, interest payments, grants, gifts, and refunds; and (2) All income derived through investment of the fund. (c) (1) The fund shall be administered by and disbursed at the direction of the Arkansas Cyber Response Board. (2) Moneys shall not be appropriated from the fund for any purpose except for: (A) The use and benefit of participating governmental entities for claims; and (B) Expenses of the Arkansas Cyber Response Board, including without limitation travel expenses, actuarial fees, consultant expenses, and service contract fees. (3) The assets of the fund may be invested and reinvested as the Arkansas Cyber Response Board may determine with the advice of the State Board of Finance. (4) For the purposes of investment, fund moneys invested and interest earned on fund moneys invested shall be administered as trust funds under the State Treasury Management Law, § 19-3-501 et seq. (5) All moneys deposited into the fund shall not be subject to any deduction, tax, levy, or any other type of assessment.

Legislative History

Added by Act 2023, No. 846,§ 1, eff. 8/1/2023.