N.J.S.A. 18A:20-32 — Commissioners may insure buildings and property in insurance companies

18A:20-32. Commissioners may insure buildings and property in insurance companies Whenever the insurance fund commissioners of any city deem it expedient, they may place insurance on school buildings and school property, insured in the municipal insurance fund, with insurance companies authorized to do business in this state. The premiums for such insurance in excess of the rates of premium thereon fixed by the commissioners shall be paid forthwith to the commissioners by the board of education of the district. The policies of insurance shall provide that the loss be payable to the board of education of the school district. L.1967, c.271.

This is the verbatim text of N.J.S.A. 18A:20-32, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.