1. Claims for losses covered by indemnity agreements under this division shall be submitted to the department of administrative services which shall review the claims. If the department determines that the loss is covered by the agreement, the department shall certify the validity of the claim and authorize payment of the amount of loss, less any deductible portion, to the lender.
2. The department shall prescribe rules providing for prompt adjustment of valid claims. The rules shall include provisions for the employment of consultants and for the arbitration of issues relating to the dollar value of damages involving less than total loss or destruction of covered items.
3. The authorization for payment shall be forwarded to the director of the department of administrative services, who shall issue a warrant for payment of the claim from the state general fund out of any funds not otherwise appropriated.
84 Acts, ch 1073, § 10; 89 Acts, ch 76, §8; 2003 Acts, ch 145, §286
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