Bill Summary for S 702 (2011-2012)

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Summary date: 

Apr 19 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 702 (Public) Filed Tuesday, April 19, 2011
TO ALLOW THE STATE TREASURER TO PURCHASE LIABILITY INSURANCE.
Intro. by Meredith.

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Bill summary

Adds new GS 147-69.3A as title indicates. Insurance purchased may be of any kind and may cover all risks or potential liability for Treasurer, board members serving on boards housed in the Treasurer’s office, and employees and agents of the Treasurer, including liability for investments managed by the Treasurer. Specifies that purchase of insurance does not waive sovereign immunity or other defenses.