§ 15.1-09-59 — Maintenance of insurance - Report to superintendent of public instruction

1. At least once every six years, each school district shall work with its commercial
property insurance carrier for the purpose of ensuring that:
a. All school district buildings and facilities are properly identified and accurately
valued; and
b. The contents of all school district buildings and facilities are properly inventoried
and accurately valued.
2. a. If a school district can demonstrate to the satisfaction of the superintendent of
public instruction that the district completed the requirements of subsection 1
during the period beginning July 1, 2006, and ending June 30, 2011, the district's
six-year requirement for identification and valuation begins on the date that the
requirements were met.
b. If a school district cannot demonstrate to the satisfaction of the superintendent of
public instruction that the district completed the requirements of subsection 1
during the period beginning July 1, 2006, and ending June 30, 2011, the district
shall complete the requirements during the 2011-12 school year.
3. Annually, each school district shall review the terms of any insurance policies providing
coverage for its buildings, its facilities, and their contents and ensure that the policies
are sufficient to provide in full for the repair or replacement of the buildings, its
facilities, and their contents, in the event of a loss.
4. Annually, the superintendent of public instruction shall verify that each school district is
in compliance with the requirements of this section.