Section 1-42-203 - Self-insurance program board; powers and duties(a) The board shall: (i) Administer the program;(ii) Provide legal services for the defense of claims covered by this act;(iii) Procure insurance, including reinsurance, purchase loss prevention, actuarial and other professional services as required by the board;(iv) Establish assessments as necessary to operate the program on an actuarially sound basis. Assessments shall be computed to provide for:(A) Expenditures authorized under this act; and(B) Stabilization charges to develop adequate reserves.(v) Apportion and collect assessments from each participating local government;(vi) Establish deductibles or retentions as deemed necessary for the efficient operation of the program; and(vii) Adopt rules governing the administration of the program.(b) The board may deny a local government participation in or may terminate a participant from the program for a failure to pay the assessments required under this act.