Joint Reserve Funds Allowed
The Tennessee Municipal League (TML) has established a liability insurance pool to serve member cities with low-cost, reliable liability coverage. The insurance pool was previsouly known as the TML Risk Management Pool, and the current name of the entity is Public Entity Partners. Detailed information about the pool is available from TML.
Any governmental entity is entitled to create and maintain a reserve or special fund or, with one or more other local governmental entities, contribute to a joint reserve or special fund to pay claims against the cooperating governmental entities pursuant to the act, or to purchase liability insurance to protect the cooperating governmental entities from any or all risks created by the act. T.C.A. § 29-20-401.