58-31A-55. Other property insurance.
The Commissioner shall adopt rules for providing property insurance on property insured by the Fund against all risks of direct physical loss not otherwise insured against pursuant to this Article. Losses covered by this additional insurance shall be paid out of the Fund in the same manner as fire and extended coverage losses. Each public education board that elects to purchase this additional insurance shall pay a premium in accordance with rates fixed by the Commissioner. This additional insurance shall be subject to the provisions and stipulations on policy forms approved by the Commissioner. (2019-176, s. 3(b).)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 31A - State Insurance for Public Education.
§ 58-31A-5 - Duty of the Commissioner to operate insurance system for public education property.
§ 58-31A-10 - Flood insurance.
§ 58-31A-15 - Authority and rules for organization of system.
§ 58-31A-30 - Inspections of insured public education properties.
§ 58-31A-50 - Maintenance of inspection and engineering service; cancellation of insurance.
§ 58-31A-55 - Other property insurance.
§ 58-31A-60 - Catastrophic insurance for covered activities.