Bill Text: NY S01877 | 2019-2020 | General Assembly | Introduced

New York Senate Bill 1877 (Prior Session Legislation)

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 1-0)

Status: (Passed) 2019-11-25 - SIGNED CHAP.551 [S01877 Detail]

Download: New_York-2019-S01877-Introduced.html

                STATE OF NEW YORK
        ________________________________________________________________________
                                          1877
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 17, 2019
                                       ___________
        Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
        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 central
    22  school district may establish insurance reserve funds in compliance with
    23  this 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.
                                                                   LBD01652-01-9

        S. 1877                             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.