(a) An occupational licensing board may purchase commercial insurance of any kind to cover all risks or potential liability of the board, its members, officers, employees, and agents, including the board’s liability under Articles 31 and 31A of Chapter 143 of the N.C. Gen. Stat..

(b) Occupational licensing boards shall be deemed State agencies for purposes of Articles 31 and 31A of Chapter 143 of the N.C. Gen. Stat., and board members and employees of occupational licensing boards shall be considered State employees for purposes of Articles 31 and 31A of Chapter 143 of the N.C. Gen. Stat.. To the extent an occupational licensing board purchases commercial liability insurance coverage in excess of one hundred fifty thousand dollars ($150,000) per claim for liability arising under Article 31 or 31A of Chapter 143 of the N.C. Gen. Stat., the provisions of N.C. Gen. Stat. § 143-299.4 shall not apply. To the extent that an occupational licensing board purchases commercial insurance coverage for liability arising under Article 31 or 31A of Chapter 143 of the N.C. Gen. Stat., the provisions of N.C. Gen. Stat. § 143-300.6(c) shall not apply.

(c) The purchase of insurance by an occupational licensing board under this section shall not be construed to waive sovereign immunity or any other defense available to the board, its members, officers, employees, or agents in an action or contested matter in any court, agency, or tribunal. The purchase of insurance by an occupational licensing board shall not be construed to alter or expand the limitations on claims or payments established in N.C. Gen. Stat. § 143-299.2 or limit the right of board members, officers, employees, or agents to defense by the State as provided by N.C. Gen. Stat. § 143-300.3 (2002-168, s. 1.)