Texas Education Code

§ 43.057 — LIABILITY INSURANCE FOR BOARD MEMBERS AND EMPLOYEES

ED § 43.057Title 2. PUBLIC EDUCATION · Part I. SCHOOL FINANCE AND FISCAL MANAGEMENT · Ch. 43. PERMANENT SCHOOL FUND AND AVAILABLE SCHOOL FUND · Art. B. TEXAS PERMANENT SCHOOL FUND CORPORATION

Statute text

View on source

(a)The corporation may purchase or otherwise acquire insurance to protect members of the board of directors and employees of the corporation, subject to Subsection (c).

(b)Insurance purchased or acquired by the corporation under this section may:

(1)protect against any type of liability to third persons that might be incurred while conducting corporation business; and

(2)provide for all costs of defending a cause of action for such liability, including court costs and attorney's fees.

(c)This section does not authorize the purchase or acquisition of insurance to protect against liability not described in Subsection (b).

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 875 (S.B. 1232), Sec. 1.06, eff. September 1, 2021.