Bill Text: NY S01012 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to permitting the enlarged school district of Middletown to establish an insurance reserve fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2019-11-20 - SIGNED CHAP.509 [S01012 Detail]
Download: New_York-2019-S01012-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1012 2019-2020 Regular Sessions IN SENATE January 10, 2019 ___________ Introduced by Sen. METZGER -- 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 enlarged school district of Middletown to establish an insurance reserve fund 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 [and], the Vernon 18 Verona Sherrill central school district [may establish insurance reserve19funds in compliance with this section and article seventy-four of the20education law and], the Minisink Valley central school district and the 21 enlarged city school district of Middletown may establish insurance 22 reserve funds in compliance with this section and article seventy-four 23 of the education law and such school districts may make expenditures in 24 compliance with this section and article seventy-four of the education EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05858-01-9S. 1012 2 1 law from such reserve fund for any loss, claim, action or judgment for 2 which the school districts are authorized or required to purchase or 3 maintain insurance for the kinds of risks for which insurance is author- 4 ized pursuant to paragraph three of subsection (a) of section one thou- 5 sand one hundred thirteen of the insurance law. 6 § 2. This act shall take effect immediately.