As used in this part 15, unless the context otherwise requires: (1) "Board" means the state claims board created in section 24-30-1508. (2) Repealed. (3) "Executive director" means the executive director of the department of personnel. (4) "Final money judgment" means any judgment for monetary damages against the state after all appropriate appeals of such judgment have been exhausted. (4.3) "Liability protection" means professional liability protection for damages from any negligent professional act, error, or omission on the part of the members of the board of supervisors of each local conservation district. (4.5) "Property" means both real property as defined in section 39-1-102 (14) and personal property as defined in section 39-1-102 (11). For purposes of the self-insured property fund, "personal property" means personal property owned by the state of Colorado or personal property leased by the state of Colorado for which the state is required to provide insurance under the terms of a lease, financed purchase of an asset, or certificate of participation agreement. For purposes of the self-insured property fund, "personal property" does not include aircraft owned by the state of Colorado or vehicles licensed for use on highways or roads. For purposes of the self-insured property fund, "real property" means buildings owned by the state of Colorado or buildings leased by the state of Colorado for which the state is required to provide insurance under the terms of a lease or financed purchase of an asset agreement, or certificate of participation. (5) (a) "State agency" means any principal department of the state, any state agency, institution, or hospital, any board, commission, advisory board, or other entity established by law within or as an advisory to any existing state department, institution, or agency, and any state- supported institution of higher education or other instrumentality thereof, except as provided in paragraph (b) of this subsection (5) and in section 24-30-1517 (2), and the legislative and judicial departments of the state. The term also includes the Colorado state fair authority created pursuant to section 35-65-401, C.R.S., and any conservation district organized and certified pursuant to article 70 of title 35, C.R.S.; except that, in the case of conservation districts, such inclusion under the risk management fund is only for the purpose of liability protection as defined in subsection (4.3) of this section. (b) The governing board of each institution of higher education, including the Auraria higher education center established in article 70 of title 23, C.R.S., by formal action of the governing board, and the Colorado commission on higher education, by formal action of the commission, may elect to be excluded from the meaning of "state agency" pursuant to this subsection (5) and may obtain a risk management program independent of the program created pursuant to this part 15. Nothing in this paragraph (b) shall be construed to affect the exempt status of any institution in the university of Colorado system, including the university of Colorado at Boulder, Denver, and Colorado Springs, and the university of Colorado health sciences center, from the state risk management system pursuant to section 24-30-1517 (2), or to require the governing board of any such institution in the university of Colorado system to take formal action in order to be exempt from the definition of "state agency". (6) "Workers' compensation" means protection afforded to a state employee pursuant to articles 40 to 47 of title 8, C.R.S.
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