§87D-12 - Insurance; immunity of State and counties.
[§87D-12] Insurance; immunity of State and counties. (a) The employee organization or the trust's governing board shall procure:
(1) Fiduciary liability insurance and errors and omissions coverage for members of the governing board; and
(2) A fidelity bond of a reasonable amount for the chairperson of the governing board and any other person authorized to handle trust moneys.
(b) Notwithstanding any law to the contrary, the State and the counties, and their officers, agents, and employees, shall not be liable for any benefits provided by a trust or which it fails to provide, any losses suffered by a trust, and any losses, damages, or penalties arising out of the operations of a trust or the acts or omissions of a trust's governing board or any fiduciary of a trust. [L 2005, c 245, pt of §2]