(a) There is established within the State Insurance Department the Strengthen Arkansas Homes Program.
(b) The program is created to provide financial grants to real property owners and nonprofit organizations to assist and promote the mitigation of losses to insurable dwellings due to catastrophic wind events, including hail, according to FORTIFIED Home construction standards published by the Insurance Institute for Business & Home Safety or a successor entity.
(c) This subchapter does not create an entitlement for a property owner or obligate the state to fund the inspection, construction, or retrofitting of residential property in this state.
(d) The department may apply for financial grants to construct or retrofit insurable dwellings to resist loss due to catastrophic wind events or hail and deposit the funds into the Strengthen Arkansas Homes Program Fund.
(e) (1) The department may make grants or funding available to a nonprofit entity for a project to construct or retrofit an insurable dwelling to resist loss due to catastrophic wind events or hail if the grant or funding to a nonprofit entity is allowable under grant or funding rules, requirements, guidelines, or criteria.(2) A nonprofit entity under subdivision (e)(1) of this section shall:(A) Agree to administer the grants or funding as the program would be required to administer grants or funding; and(B) Provide documentation to the department in a timely manner as requested by the department.
(1) The department may make grants or funding available to a nonprofit entity for a project to construct or retrofit an insurable dwelling to resist loss due to catastrophic wind events or hail if the grant or funding to a nonprofit entity is allowable under grant or funding rules, requirements, guidelines, or criteria.
(2) A nonprofit entity under subdivision (e)(1) of this section shall:(A) Agree to administer the grants or funding as the program would be required to administer grants or funding; and(B) Provide documentation to the department in a timely manner as requested by the department.
(A) Agree to administer the grants or funding as the program would be required to administer grants or funding; and
(B) Provide documentation to the department in a timely manner as requested by the department.
(f) (1) All mitigation projects shall be based upon the securing of required local permits and applicable inspections in keeping with local building codes and the Insurance Institute for Business & Home Safety's FORTIFIED Home construction standards as adopted by rule by the Insurance Commissioner.(2) All mitigation projects are subject to random reinspection.
(1) All mitigation projects shall be based upon the securing of required local permits and applicable inspections in keeping with local building codes and the Insurance Institute for Business & Home Safety's FORTIFIED Home construction standards as adopted by rule by the Insurance Commissioner.
(2) All mitigation projects are subject to random reinspection.