(a) The Commissioner of Insurance shall establish and support the Center for Risk and Insurance Research, or its successor, connected with a state university in this state to carry out research, education, and outreach regarding risk management and insurance issues. (b) There is created the Center for Risk and Insurance Research Fund in the State Treasury to be used to fund the center. No funds shall be withdrawn or expended except as budgeted and allotted according to Sections 41-4-80 to 41-4-96, inclusive, and 41-19-1 to 41-19-12, inclusive, and only in amounts as appropriated in the general appropriations act or other appropriation acts to the Department of Insurance for the operation of the center. (c) The Commissioner of Insurance may transfer to the state university described in subsection (a) up to the amount appropriated from the Center for Risk and Insurance Research Fund each fiscal year to be used for the operation of the center.
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