All insurance carried by the State Budget and Control Board as provided for in this chapter shall be carried at a premium rate to be determined by the board not in excess of the rate which, in the opinion of the board, would be charged by reliable old line insurance companies for carrying this insurance.

HISTORY: 1962 Code Section 1-438; 1952 Code Section 1-438; 1942 Code Section 2184; 1936 (39) 1668.