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- Alaska Statutes.
- Title 14. Education, Libraries, and Museums
- Chapter 3. Public Schools Generally
- Section 150. Property Insurance Required.
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AS 14.03.150. Property Insurance Required.
- (a) Each school district shall purchase and maintain or provide proof of adequate property insurance for the replacement
cost of all school facilities and equipment. Insurance purchased to comply with this section may contain a deductible
amount, if approved by the department. A school district may comply with this section by initiating and maintaining a
program of self-insurance, if the department annually determines that the school district has submitted adequate
evidence of the district's ability to self-insure for the replacement cost of all school facilities and equipment. A
copy of the insurance policy or other information indicating compliance with this section shall be provided to the
- (b) If the department determines that a school district is not insured as required under (a) of this section, the
department shall notify the school district of the determination. Unless the school district obtains adequate
insurance within 30 days after the school district receives notice under this subsection, the department shall purchase
the insurance required by (a) of this section for that school district.
- (c) The department may not award a school construction or major maintenance grant under AS 14.11 to a municipality that is a school district or a regional
educational attendance area that is not in compliance with (a) of this section. The department shall reduce the amount
of state aid under AS 14.17.400
for which a school district may qualify by the amount, if any, paid by the department under (b) of this section.
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