Sec. 7-479s. Municipal Liability Trust Fund. Purposes. Moneys in fund.
Sec. 7-479s. Municipal Liability Trust Fund. Purposes. Moneys in fund. (a)
There is established a fund to be known as the "Municipal Liability Trust Fund". The
purpose of the Municipal Liability Trust Fund shall be to: (1) Help assure the availability
of liability coverage for municipalities, (2) improve municipal loss control activities
and (3) facilitate pooling of municipal efforts to accomplish these purposes. The fund
shall contain any moneys required by law to be deposited in the fund and shall be held in
trust separate and apart from all other moneys, funds and accounts. Investment earnings
credited to the assets of said fund shall become part of the assets of said fund. Any
balance remaining in said fund at the end of any fiscal year shall be carried forward in
said fund for the fiscal year next succeeding.
(b) As used in this chapter, "municipality" means any town, city, borough, consolidated town and city or consolidated town and borough.
(P.A. 86-350, S. 18, 28; P.A. 87-236.)
History: P.A. 87-236 added Subsec. (b) defining "municipality".