(1) There is established 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 Multi-Agency Insurance Trust Fund”.
(2) The fund shall consist of all moneys received by the Administrator of the Risk Management Division of the State Insurance Department, including, but not limited to, the premiums collected and any insured loss or loss expenses paid by insurance or reinsurance companies and interest income as set out in § 25-35-103.
(3) The fund shall be used for the purposes set out in § 25-35-103.