1. (a)

   1. (1) The Board may carry comprehensive liability insurance to protect the Board, its agents, and employees.
   2. (2) The purchase of the insurance is for an educational purpose and is a valid educational expense.

2. (b)

   1. (1) The Board may adopt standards for the policies, including a minimum liability coverage that may not be less than $100,000 per occurrence.
   2. (2) Any policy purchased after the adoption of these standards shall conform to them.
3. (c) The Board complies with this section if it is self-insured, for at least $100,000 and not more than $500,000 per occurrence, under the rules and regulations of the State Insurance Commissioner.
4. (d) This section does not prevent the Board, on its own behalf, from raising the defense of sovereign immunity to any amount of a claim in excess of the limit of an insurance policy or in excess of $100,000 in the case of self-insurance.

<This section is repealed effective upon occurrence of contingency specified in Acts 2018, c. 402, § 2.>

Added by Acts 1994, c. 282, § 1, eff. July 1, 1994.