New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 3 - AUTOMOBILE INSURANCE
Subchapter 30 - MOTOR VEHICLE SELF-INSURANCE
Section 11:3-30.7 - Surety bond requirement
Universal Citation: NJ Admin Code 11:3-30.7
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The Commissioner may require the furnishing of a surety bond and/or evidence of excess insurance.
(b) If the applicant or certificate holder is required to furnish a surety bond, the surety bond shall be in an amount of not less than $ 300,000, with an additional $ 10,000 for each vehicle registered or leased in the applicant's or certificate holder's name over the minimum required to qualify as self-insurer under this subchapter, up to a maximum amount of $ 1,000,000.
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