State may insure against claims
121 State may insure against claims
Notwithstanding anything to the contrary in this Act, the chief executive officer may, on behalf of the State, enter into any contract of insurance with any person carrying on fidelity insurance business in the State, by which the State will be indemnified to the extent and in the manner provided by the contract against liability to pay claims under this Act.
Any such contract may be entered into in relation to licensees generally who are holders of current triennial certificates or sales representatives generally who are the holders of current certificates of registration or in relation to any licensee who is the holder of a current triennial certificate or any sales representative who is the holder of a current certificate of registration.
The chief executive officer may publish the fact that a policy has been effected under this section and of the details of the policy.
[Section 121 amended: No. 51 of 1986 s. 46(2); No. 58 of 2010 s. 113.]
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