US Laws, Codes, Statutes & Cases

§18-2-37. State Board study on flood insurance and general property insurance.

(a) The Legislature finds the following:
(1) When county boards do not fully insure their buildings and the contents of those buildings, the Legislature is sometimes expected to cover at least part of the costs of any damages that are incurred;
(2) Although the Federal Emergency Management Agency through the Public Assistance Grant Program will provide, in some instances, grants to repair or replace buildings owned by a county board, those grants are only provided if those buildings are located in an area where a state of emergency has been declared; and
(3) The Federal Emergency Management Agency requires a certain amount and type of insurance for certain school buildings.
(b) The State Board shall conduct a study on the feasibility of requiring flood insurance, general property insurance or both on all buildings owned by a county board and the contents of those buildings. The State Board shall report back to the Legislative Oversight Commission on Education Accountability before the first day of December, two thousand five. The report shall include any recommended legislation.