Opinion No., (1978)
Court: Oklahoma Attorney General Reports
Number:
Visitors: 30
Filed: Mar. 28, 1978
Latest Update: Mar. 03, 2020
Summary: OPINION — AG — ** CITIES AND TOWNS ** ALTHOUGH 11 Ohio St. 1977 Supp., 16.4 [11-16.4] CONTAINS NO EXPRESS REQUIREMENT THAT A CITY OR TOWN, SELF INSURING THEREUNDER, MAINTAIN A SUM OF MONEY IN A SEPARATE OR DISTINCT FUND TO PAY LIABILITY LOSSES AT THE STATUTORY RATE, ANY CITY OR TOWN PROPERLY SELF INSURING THEREUNDER, WOULD BE REQUIRED TO HAVE A SUFFICIENT SUM OF MONEY LEGALLY AVAILABLE TO IT FROM WHICH IT COULD REPAY LIABILITY LOSSES AT THE STATUTORY RATE, AND THE METHOD AND DETAIL OF SUCH FUNDI
Summary: OPINION — AG — ** CITIES AND TOWNS ** ALTHOUGH 11 Ohio St. 1977 Supp., 16.4 [11-16.4] CONTAINS NO EXPRESS REQUIREMENT THAT A CITY OR TOWN, SELF INSURING THEREUNDER, MAINTAIN A SUM OF MONEY IN A SEPARATE OR DISTINCT FUND TO PAY LIABILITY LOSSES AT THE STATUTORY RATE, ANY CITY OR TOWN PROPERLY SELF INSURING THEREUNDER, WOULD BE REQUIRED TO HAVE A SUFFICIENT SUM OF MONEY LEGALLY AVAILABLE TO IT FROM WHICH IT COULD REPAY LIABILITY LOSSES AT THE STATUTORY RATE, AND THE METHOD AND DETAIL OF SUCH FUNDIN..
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OPINION — AG — ** CITIES AND TOWNS ** ALTHOUGH 11 Ohio St. 1977 Supp., 16.4 [11-16.4] CONTAINS NO EXPRESS REQUIREMENT THAT A CITY OR TOWN, SELF INSURING THEREUNDER, MAINTAIN A SUM OF MONEY IN A SEPARATE OR DISTINCT FUND TO PAY LIABILITY LOSSES AT THE STATUTORY RATE, ANY CITY OR TOWN PROPERLY SELF INSURING THEREUNDER, WOULD BE REQUIRED TO HAVE A SUFFICIENT SUM OF MONEY LEGALLY AVAILABLE TO IT FROM WHICH IT COULD REPAY LIABILITY LOSSES AT THE STATUTORY RATE, AND THE METHOD AND DETAIL OF SUCH FUNDING OF SELF INSURANCE IS WITHIN THE SOUND DISCRETION OF THE GOVERNING BODY OF SUCH CITY OR TOWN. (SURETY BOND) CITE: 11 Ohio St. 1977 Supp., 16.4 [11-16.4] (LIABILITY INSURANCE) (GERALD E. WEIS)
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