67-5776. RETAINED RISKS ACCOUNT — PURPOSES — AMOUNT — LIMIT — APPROPRIATION — INVESTMENT. (1) There is hereby created an account in the agency asset fund in the state treasury to be designated the "retained risk account." The account shall be used solely for payment of premiums, costs of maintaining the operation of the risk management office, or upon losses not otherwise insured and suffered by the state as to property and risks which at the time of the loss were eligible for such payment under guidelines theretofore issued by the director of the department of administration.
(2) In addition to moneys, if any, appropriated to the account by the legislature, the director shall deposit with the state treasurer for credit to the retained risk account:
(a) the gross amount of all premiums and surcharges received under section 67-5777, Idaho Code;
(b) all refunds received on account of insurance policies canceled before expiration;
(c) all refunds or returns under experience rating arrangements with insurers;
(d) savings from amounts otherwise appropriated for the purchase of insurance or conduct of the risk management office operation;
(e) all net proceeds of the sale of salvage resulting from losses paid out of the retained risk account.
(3) The director may from time to time develop guidelines as to properties and risks eligible for payment out of the retained risk account, and as to making of claim and proof of loss.
(4) All moneys placed in the account are hereby perpetually appropriated for the purposes of this section. All expenditures from the account shall be paid out in warrants drawn by the state controller upon presentation of proper vouchers from the director of the department of administration.
(5) Pending such use, surplus moneys in the account shall be invested by the state treasurer in the same manner as provided under section 67-1210, Idaho Code, with respect to other surplus or idle moneys in the state treasury. Interest earned on the investments shall be returned to the account.
History:
[(67-5776) I.C., sec. 67-5756, as added by 1974, ch. 252, sec. 5, p. 1647; I.C., sec. 67-5757, as corrected by 1975, ch. 195, sec. 4, p. 540; am. and redesig. 1980, ch. 106, sec. 25, p. 242; am. 1981, ch. 99, sec. 2, p. 146; am. 1993, ch. 221, sec. 18, p. 757; am. 1994, ch. 180, sec. 225, p. 560.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 57 - DEPARTMENT OF ADMINISTRATION
Section 67-5701 - DEPARTMENT CREATED — APPOINTMENT OF DIRECTOR — DUTIES.
Section 67-5702 - DIVISIONS — APPOINTMENT OF ADMINISTRATORS.
Section 67-5704 - ADVANCE PAYMENTS AND INTERACCOUNT TRANSACTIONS.
Section 67-5705 - DIVISION OF PUBLIC WORKS.
Section 67-5706 - ALLOCATION OF OFFICE SPACE.
Section 67-5707A - PROCEDURES FOR STATE-OWNED DWELLINGS.
Section 67-5708 - LEASING OF FACILITIES FOR STATE USE — CONTROL OF PARKING.
Section 67-5708A - STATE FACILITIES MANAGEMENT — COMPARATIVE LEASE COST ANALYSIS AND ACCOUNTABILITY.
Section 67-5708B - FACILITIES NEEDS PLANNING.
Section 67-5709 - MANAGEMENT OF STATE FACILITIES.
Section 67-5709A - SALE, TRANSFER OR DISPOSITION OF STATE ADMINISTRATIVE FACILITIES.
Section 67-5710B - DEFINITIONS.
Section 67-5711A - DESIGN-BUILD CONTRACTING AUTHORIZED.
Section 67-5711B - EMERGENCY CONTRACTING AUTHORIZED DIVISION OF PUBLIC WORKS.
Section 67-5711C - CONSTRUCTION OF PUBLIC PROJECTS — COMPETITIVE SEALED BIDDING.
Section 67-5711D - ENERGY SAVINGS PERFORMANCE CONTRACTS.
Section 67-5712 - PROJECTION OF BUILDING REQUIREMENTS REPORT.
Section 67-5713 - CONSTRUCTION AND ALTERATION OF STATE CORRECTIONAL FACILITIES.
Section 67-5722 - DECLARATION OF SURPLUS PROPERTY.
Section 67-5732A - DISPOSAL OF SURPLUS PERSONAL PROPERTY AUTHORIZED.
Section 67-5732B - GOVERNOR’S HOUSING COMMITTEE PERSONAL PROPERTY EXEMPT FROM ACT.
Section 67-5737 - SEVERABILITY.
Section 67-5741 - DELEGATION OF DUTIES — BONDING OF AGENCY PERSONNEL.
Section 67-5742 - DELEGATION OF AUTHORITY TO ACQUIRE SURPLUS PROPERTY.
Section 67-5743 - TRANSFER CHARGES.
Section 67-5744 - SURPLUS PROPERTY FUND MAINTAINED — CHARGES AND FEES, DEPOSITION.
Section 67-5748 - TRANSFER OF FUNDS, EQUIPMENT, FACILITIES, AND EMPLOYEES.
Section 67-5749 - CENTRAL POSTAL SYSTEM.
Section 67-5760 - INSURANCE MANAGEMENT.
Section 67-5761 - POWERS AND DUTIES — GROUP INSURANCE.
Section 67-5761A - MENTAL HEALTH PARITY IN STATE GROUP INSURANCE.
Section 67-5761B - STATE CONTRIBUTION TO STATE EMPLOYEE HEALTH SAVINGS ACCOUNTS.
Section 67-5761C - HEALTH REIMBURSEMENT ARRANGEMENTS FOR STATE EMPLOYEES.
Section 67-5762 - OBJECTIVES AND CONSIDERATIONS.
Section 67-5764 - PART PAYMENT OF PREMIUM COST BY GOVERNMENTAL BODY.
Section 67-5765 - GOVERNMENT RETIREMENT PROGRAM OR GROUP INSURANCE PLANS IN EXISTENCE UNAFFECTED.
Section 67-5766 - AUTHORITY CONFERRED ADDITIONAL ONLY.
Section 67-5768 - NOMINAL POLICYHOLDER — NO OBLIGATION TO STATE.
Section 67-5770 - RETIREMENT SYSTEM NOT AFFECTED.
Section 67-5771 - GROUP INSURANCE ACCOUNT CREATED — ADMINISTRATION — PERPETUAL APPROPRIATION.
Section 67-5771A - PUBLIC SCHOOL HEALTH INSURANCE PARTICIPATION FUND.
Section 67-5772 - REMITTANCE OF CONTRIBUTIONS — COLLECTION OF DELINQUENCIES.
Section 67-5773 - POWERS AND DUTIES — RISK MANAGEMENT.
Section 67-5774 - POSITION OF RISK MANAGER CREATED — APPOINTMENT — EMPLOYMENT OF PERSONNEL.
Section 67-5775 - RISK MANAGEMENT GUIDELINES.
Section 67-5776 - RETAINED RISKS ACCOUNT — PURPOSES — AMOUNT — LIMIT — APPROPRIATION — INVESTMENT.
Section 67-5777 - INTERDEPARTMENTAL TRANSACTIONS — PURPOSES — APPROPRIATION.