Allows the Oswego city school district to establish an insurance reserve fund.
The bill amends the general municipal law to allow the Oswego city school district to establish an insurance reserve fund. This fund can be used for expenditures related to losses, claims, actions, or judgments for which the district is authorized or required to purchase or maintain insurance. The fund cannot be used for risks for which insurance is authorized under specific sections of the insurance law or for payments in lieu of contributions under the labor law. The act takes effect immediately.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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