Sec. 2259.031. ESTABLISHMENT OF FUND. (a) A governmental unit may establish a self-insurance fund to protect the governmental unit and its officers, employees, and agents from any insurable risk or hazard.
(b) The governmental unit may:
(1) issue public securities and use the proceeds for all or part of the fund; or
(2) use any money available to the governmental unit for the fund.
(c) The governmental unit may purchase reinsurance for a risk covered through the fund.
(d) Any law, including a regulation, requiring insurance may be satisfied by coverage provided through the fund.
(e) Any law, including a regulation, requiring a certificate of insurance or an insurance agent's signature, countersignature, or approval may be satisfied by a certificate of coverage issued on behalf of the governmental unit demonstrating that coverage is provided through the fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 5, eff. Sept. 1, 1999.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 428 (S.B. 531), Sec. 1, eff. September 1, 2013.
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