(A) The Board of Commissioners may, by resolution, authorize the Mayor, on behalf of the town to contract with 1 or more insurance companies authorized to do business in this state to protect the town, and town officers and employees while acting in line of duty against losses arising from public liability, fire, theft, hail, windstorm and other causes, the amount and terms of policies to be as prescribed by the Board of Commissioners and agreed upon by the insurers.
(B) Nothing in this section shall be construed as a waiver of the governmental immunity of the town under the provisions of G.S. § 160A-485; but the Board of Commissioners may, in the resolution mentioned in division (A) of this section, waive immunity if, in the discretion of the Board, the action appears to be in the best interests of the town.
(Prior Code, § 2-5)