(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.
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