(1) The Insurance Commissioner shall require each entity participating in the Public School Motor Vehicle Insurance Program to furnish to the Risk Management Division a complete list of each and every motor vehicle with full information in regard to the year, make, model, value, condition, and any other pertinent information.
(2) The commissioner shall have authority to require each participating entity to furnish a complete report of its motor vehicle insurance program, including the expiration dates of its contracts and loss histories.