Permits the Chenango Forks central school district to create an insurance reserve fund.
This bill amends the general municipal law to allow the Chenango Forks central school district to establish 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, excluding certain risks. The fund's creation and expenditures must comply with the general municipal law and the education law. The act takes effect immediately upon passage.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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