SCHOOLS
OKLAHOMA 2024 SESSION LAW SERVICE Fifty-Ninth Legislature, 2024 Second Regular Session
2024 Okla. Sess. Law Serv. Ch. 12 (H.B. 2190) (WEST)
OKLAHOMA 2024 SESSION LAW SERVICE
Fifty-Ninth Legislature, 2024 Second Regular Session
CHAPTER 12
H.B. No. 2190
SCHOOLS
An Act relating to schools; permitting board of education to establish fund to purchase high-deductible property insurance policy; requiring transfer of monies from school district general fund; prescribing maximum amount of transfer; providing for codification; providing an effective date; and declaring an emergency.
SUBJECT: Schools
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 5–117.7 of Title 70, unless there is created a duplication in numbering, reads as follows:
<< OK ST T. 70 § 5–117.7 >>
A. Pursuant to the powers and duties granted by paragraph 8 of subsection A of Section 5–117 of Title 70 of the Oklahoma Statutes, the board of education of each school district may establish a casualty and flood insurance recovery fund for the purpose of purchasing a high-deductible property insurance policy.
B. Monies for the casualty and flood insurance recovery fund shall be transferred from the school district general fund, as defined in Section 1–117 of Title 70 of the Oklahoma Statutes. The amount of monies transferred from the general fund shall not exceed the amount of the high-deductible property insurance policy deductible.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediately necessary for the preservation of the public peace, health or safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.
Approved April 18, 2024.
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