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Code · Utah · Title 63G — General Government · Chapter 7

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

95 words·~1 min read·/ut/title-63g/chapter-7/63g-7-703

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