Assembly Bill A9412

Signed By Governor
2015-2016 Legislative Session

Relates to insurance reserve funds of certain school districts

download bill text pdf

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Archive: Last Bill Status - Signed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A9412 (ACTIVE) - Details

See Senate Version of this Bill:
S6876
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L; add §3653, Ed L

2015-A9412 (ACTIVE) - Summary

Grants the Scarsdale union free school district and Vernon Verona Sherrill central school district the authority to establish insurance reserve funds.

2015-A9412 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9412

                          I N  A S S E M B L Y

                              March 2, 2016
                               ___________

Introduced by M. of A. BRINDISI -- read once and referred to the Commit-
  tee on Education

AN  ACT  to  amend  the  general municipal law and the education law, in
  relation to insurance reserve funds of certain school districts

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener-
al  municipal  law,  as  amended  by chapter 433 of the laws of 2014, is
amended to read as follows:
  (a) The governing board of any municipal corporation may  establish  a
reserve  fund  to  be  known  as  the  insurance  reserve fund. Upon the
creation of the fund, the municipality may make  expenditures  from  the
fund  for  any  loss,  claim, action or judgment for which the municipal
corporation is authorized or required to purchase or maintain insurance,
except those kinds of risks for which insurance is  authorized  pursuant
to  paragraph  one,  two,  three, fifteen, sixteen, seventeen, eighteen,
twenty-two or twenty-three of subsection (a) of section one thousand one
hundred thirteen of the insurance  law,  or  for  payments  in  lieu  of
contributions under article eighteen of the labor law; provided however,
that  no  municipality  shall make an expenditure from such fund for any
loss, claim, action or judgment for which the municipal corporation  has
established  a  reserve fund under any other provision of law; provided,
further that [in the case of] the Scarsdale union free school district[,
an insurance reserve fund may be  established]  AND  THE  VERNON  VERONA
SHERRILL  CENTRAL  SCHOOL DISTRICT MAY ESTABLISH INSURANCE RESERVE FUNDS
IN COMPLIANCE WITH THIS SECTION AND ARTICLE SEVENTY-FOUR OF  THE  EDUCA-
TION  LAW  and such school [district] DISTRICTS may make expenditures IN
COMPLIANCE WITH THIS SECTION AND ARTICLE SEVENTY-FOUR OF  THE  EDUCATION
LAW  from  such reserve fund for any loss, claim, action or judgment for
which the school [district is] DISTRICTS ARE authorized or  required  to
purchase  or  maintain insurance for the kinds of risks for which insur-
ance is authorized pursuant to paragraph  three  of  subsection  (a)  of
section one thousand one hundred thirteen of the insurance law.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14421-01-6

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