Senate Bill S8777

2017-2018 Legislative Session

Relates to permitting the Frontier central school district to establish an insurance reserve fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee

  • 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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2017-S8777 (ACTIVE) - Details

See Assembly Version of this Bill:
A11079
Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Amd §6-n, Gen Muni L
Versions Introduced in 2019-2020 Legislative Session:
S1732, A8139

2017-S8777 (ACTIVE) - Summary

Authorizes the Frontier central school district to establish an insurance reserve fund.

2017-S8777 (ACTIVE) - Sponsor Memo

2017-S8777 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8777
 
                             I N  S E N A T E
 
                               May 16, 2018
                                ___________
 
 Introduced  by  Sen.  JACOBS -- 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 permitting the
   Frontier central school district to  establish  an  insurance  reserve
   fund
 
   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 separately amended by chapters 414 and 416  of  the
 laws of 2016, 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 the Scarsdale union free school district [and], the Vernon
 Verona Sherrill central school district [may establish insurance reserve
 funds in compliance with this section and article  seventy-four  of  the
 education  law and], the Minisink Valley central school district AND THE
 FRONTIER 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 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  districts  are  authorized  or  required to purchase or maintain
 insurance for the kinds of  risks  for  which  insurance  is  authorized
 pursuant  to  paragraph  three of subsection (a) of section one thousand
 one hundred thirteen of the insurance law.

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