Utah Code § 63G-7-703

Current with legislation effective through 5/2/2024
Section 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.

Utah Code § 63G-7-703

Renumbered and Amended by Chapter 382, 2008 General Session.