2006 Utah Code - 63-30d-703 — Reserve funds for payment of claims or purchase of insurance created by political subdivisions.

     63-30d-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.

Enacted by Chapter 267, 2004 General Session