Risk management fund - Appropriation
N.D. Cent. Code § 32-12.2-07
in effect32-12.2-07. Risk management fund - Appropriation
1. The director of the office of management and budget shall implement and administer a
program of self-retention against liability for the state through the establishment of a
risk management fund. Each entity of the state shall participate in the program by
contributing the appropriate share of its costs as determined by the director.
2. The state risk management fund is a special fund in the state treasury administered by
the director of the office of management and budget. The fund is a revolving fund
consisting of contributions from participating state entities, all payments received by
the fund from its activities, and other appropriations by the legislative assembly. The
state investment board shall invest the fund in accordance with chapter 21-10. Funds
received as contributions from state entities, all other payments deposited in the fund,
and interest and income received on investments are hereby appropriated on a
continuing basis for the purposes of the fund. Section 54-44.1-11 does not apply to the
fund.
3. The director of the office of management and budget shall:
a. Review the state's exposure to various types of potential risks in consultation with
affected state entities and advise state entities as to the reduction of risk and
fiscal management of those losses.
b. Be responsible for statewide risk management coordination, evaluation of funding
and insuring alternatives, and the approval of all liability insurance purchases or
government self-insurance pool participation in consultation with affected state
entities.
c. Identify methods to eliminate redundant efforts in the management of state risk
management and insurance programs.
d. Administer the state risk management fund or contract for a third-party
administrator.
4. The director of the office of management and budget may request bids from insurance
carriers or government self-insurance pools or negotiate with insurance carriers and
government self-insurance pools and may enter into contracts of insurance with
carriers or memorandums of coverage with government self-insurance pools that are
best qualified to underwrite and service insurance or coverage programs for the state
through the risk management fund.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t32c12-2.pdf#nameddest=32-12p2-07Fetched: 10/16/2026