2012 Arizona Revised Statutes
Title 15 Education
15-386 Insurance refund fund
15-386. Insurance refund fund
A. Monies retained for insurance premium payments which are refunded to a school district at the end of a fiscal year by an insurer with which the governing board contracted for that fiscal year may be deposited with the county treasurer who shall credit the deposits to the insurance refund fund of the district.
B. The insurance refund fund of a school district is a continuing fund not subject to reversion. Monies from the insurance refund fund may:
1. Be expended for insurance premium payments.
2. Be placed into a trust to be used for payments of uninsured losses, claims, defense costs and other related expenses as provided in section 15-382.
3. Be used for reduction of taxes in the budget year.
Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
