Section 32-12.1-08 - Political subdivision risk funding1. A political subdivision may provide funding from revenue derived from its general fund tax levy as determined by the governing body to be necessary for risk financing purposes.2. Any unobligated balance in a political subdivision insurance reserve fund must be transferred to the political subdivision's general fund and the insurance reserve fund must be closed out by December 31, 2015. The general fund of the political subdivision may be used for risk financing purposes and the payment of claims against the political subdivision which have been settled or compromised, judgments rendered against the political subdivision, or costs incurred in the defense of claims.Amended by S.L. 2015, ch. 439 (SB 2144),§ 34, eff. 1/1/2015.