Permits the Vestal Central School District to establish an insurance reserve fund.
This bill amends the general municipal law to allow the Vestal Central School District to create an insurance reserve fund. The fund can be used for losses, claims, actions, or judgments for which the school district is authorized or required to purchase or maintain insurance. The fund cannot be used for risks covered by other insurance provisions. The bill takes effect immediately.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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