§ 63G-7-703. Reserve funds for payment of claims or purchase of insurance created by political subdivisions.

Latest version.

Any political subdivision may create and maintain a reserve fund or, may jointly with one or more other political subdivisions, make contributions to a joint reserve fund, for the purpose of:

(1) making payment of claims against the cooperating subdivisions when they become payable under this chapter; or

(2) for the purpose of purchasing liability insurance to protect the cooperating subdivisions from any or all risks created by this chapter.

Renumbered and Amended by Chapter 382, 2008 General Session

                    
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