Bill Text: NY A02518 | 2019-2020 | General Assembly | Introduced
Bill Title: Grants the Mamaroneck union free school district and the Minisink Valley central school district the authority to establish insurance reserve funds.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2019-11-25 - SIGNED CHAP.551 [A02518 Detail]
Download: New_York-2019-A02518-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2518 2019-2020 Regular Sessions IN ASSEMBLY January 23, 2019 ___________ Introduced by M. of A. OTIS -- read once and referred to the Committee on Education AN ACT to amend the general municipal law, in relation to insurance reserve funds of the Mamaroneck union free school district The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 2 of section 6-n of the gener- 2 al municipal law, as separately amended by chapters 414 and 416 of the 3 laws of 2016, is amended to read as follows: 4 (a) The governing board of any municipal corporation may establish a 5 reserve fund to be known as the insurance reserve fund. Upon the 6 creation of the fund, the municipality may make expenditures from the 7 fund for any loss, claim, action or judgment for which the municipal 8 corporation is authorized or required to purchase or maintain insurance, 9 except those kinds of risks for which insurance is authorized pursuant 10 to paragraph one, two, three, fifteen, sixteen, seventeen, eighteen, 11 twenty-two or twenty-three of subsection (a) of section one thousand one 12 hundred thirteen of the insurance law, or for payments in lieu of 13 contributions under article eighteen of the labor law; provided however, 14 that no municipality shall make an expenditure from such fund for any 15 loss, claim, action or judgment for which the municipal corporation has 16 established a reserve fund under any other provision of law; provided, 17 further that the Scarsdale union free school district, the Mamaroneck 18 union free school district, the Minisink Valley central school district 19 and the Vernon Verona Sherrill central school district may establish 20 insurance reserve funds in compliance with this section and article 21 seventy-four of the education law [and the Minisink Valley central22school district may establish insurance reserve funds in compliance with23this section and article seventy-four of the education law] and such 24 school districts may make expenditures in compliance with this section 25 and article seventy-four of the education law from such reserve fund for EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01652-01-9A. 2518 2 1 any loss, claim, action or judgment for which the school districts are 2 authorized or required to purchase or maintain insurance for the kinds 3 of risks for which insurance is authorized pursuant to paragraph three 4 of subsection (a) of section one thousand one hundred thirteen of the 5 insurance law. 6 § 2. This act shall take effect immediately.