New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 15 - GROUP SELF-INSURANCE
Subchapter 4 - JOINT INSURANCE FUNDS FOR SCHOOL BOARDS PROVIDING PROPERTY AND LIABILITY COVERAGES
Section 11:15-4.17 - Failure or refusal to provide required assessments
Universal Citation: NJ Admin Code 11:15-4.17
Current through Register Vol. 56, No. 6, March
18, 2024
Should any member of a fund fail or refuse to pay as directed its assessment(s) to the fund or to pay as directed any supplemental assessment(s), or should the trustees fail to assess funds required to meet the obligations of the fund, the chairman of the board of trustees, if any, or in the event of his or her failure to do so, the custodian of the fund's assets, shall notify the Commissioner in writing. Upon such notification, the Commissioner shall order the fund or member to take such remedial action as he or she deems necessary.
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