KRS 164.287: Motor vehicle liability insurance -- Conditions.

Each board of regents or trustees of the public postsecondary educational institutions is

authorized to provide for liability and indemnity insurance against the negligence of

drivers or operators of motor vehicles or other mobile equipment owned or operat ed by

the board. If the transportation of members of the student bodies is let out under contract,

the contract shall require the contractor to carry indemnity or liability insurance against

negligence in such amount as the board designates. In either case the indemnity bond or

insurance policy shall be issued by some surety or insurance company authorized to

transact business in this state, and shall bind the company to pay any final judgment not

to exceed the limits of the policy rendered against the insu red for loss or damage to

property of any student or other person, or death or injury of any student or other person.