New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 12 - SKI LIFTS
Subchapter 3 - ADMINISTRATION
Section 5:12-3.9 - Insurance, bond or other security
Universal Citation: NJ Admin Code 5:12-3.9
Current through Register Vol. 56, No. 18, September 16, 2024
(a) No person shall operate a passenger tramway without:
1. A policy of insurance written on a per
occurrence basis in an amount not less than $1,000,000 per occurrence insuring
the owner against liability for injury suffered by persons riding the tramway;
or
2. A bond in an amount of not
less than $1,000,000; provided, however, that the appropriate liability of the
surety under such bond shall not exceed the face amount thereof. The bond shall
be in such form and content as to be acceptable to the Department of Banking
and Insurance.
(b) The policy shall be issued by one or more insurers acceptable to the Commissioner of Banking and Insurance that are either:
1.
Licensed to write insurance in the State of New Jersey; or
2. Approved as surplus lines insurers
pursuant to section 11 of P.L. 1960, c.32, the "Surplus Lines Law."
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