Ark. Code Ann. § 23-61-603: Definitions

As used in this subchapter, unless the context otherwise requires:

(1) "Risk management" means the minimization of loss through the discovery of loss sources, evaluation of the impact of a possible loss on the organization, and the selection of the most effective and efficient technique of dealing with risk of loss;

(2) "Risk manager" means the Administrator of the Risk Management Division; and

(3) "State agencies" means any agencies, boards, bureaus, commissions, councils, departments, institutions, or other establishments of this state.