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HomeGovernment CodeDiv. 2Pt. 2Ch. 15Art. 1§ 26410 Project Insurance And Repairs

§ 26410 Project Insurance And Repairs

Government Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 26410 Project Insurance And Repairs

Key Takeaways

  • •The board can buy insurance to protect a project if it gets damaged or destroyed.
  • •If something bad happens to the project, the insurance money can be used to fix or rebuild it.
  • •The insurance money can also be used to pay back any special loans (bonds) taken for the project if the board agrees to it.

Example

A school building gets damaged in a fire.

The board can use the insurance money to repair the school or pay back any loans they took to build the school.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 26410 Project Insurance And Repairs

The board may insure against any accident to or destruction of any project or any part thereof. Any money collected on such insurance shall be used for the purpose of repairing or rebuilding the project damaged, injured or destroyed or for the retirement of any revenue bonds issued in connection therewith which may be outstanding or unredeemed, as may be agreed upon by the board in the indenture authorizing the issuance of the bonds. (Added by Stats. 1947, Ch. 822.)

Last verified: January 22, 2026

Key Terms

insuranceretirementaccidentthe boarddestructionconnectionissuance

Related Statutes

  • § 26310 Project Insurance And Repairs
  • § 50710 Project Insurance And Repairs
  • § 26412 Project Liability Insurance Authority
  • § 26312 Project Liability Insurance Authority
  • § 50712 Project Liability Insurance Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Government Code. Section 26410.
View Official Source