California Government Code

§ 4420.8

GOV § 4420.8 Effective Jan 1, 1999Div. 5 · Title 1 · Ch. 6

Statute text

(a)Notwithstanding subdivision (b) of Section 4420, commencing January 1, 1999, a state agency may utilize owner-controlled or wrap-up insurance programs if all of the following conditions are met:

(1)The total cost of the public works project is over one hundred twenty-five million dollars ($125,000,000).

(2)The program maintains completed operation coverage for a term for which the Insurance Commissioner has determined that coverage is reasonably commercially available, but in no event less than three years.

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Legislative history

Added by Stats. 1998, Ch. 679, Sec. 1. Effective January 1, 1999.