Notwithstanding the requirements to provide for indemnity bonds pursuant to Sections 42650 and 42801, the governing board of a school district may, in lieu thereof, insure against losses caused by an employee or an officer of a school district if the insurance gives the same or greater protection to the school district that a bond would provide in indemnifying the school district against any loss caused by the employee or officer of the district.
(Added by Stats. 1994, Ch. 330, Sec. 1.)
Reference:
Education Code 42650
Education Code 42801