N.J. Admin. Code § 11:15-3.19

Current through Register Vol. 57, No. 1, January 6, 2025
Section 11:15-3.19 - Investments; application of investment income
(a) The free balance of any account maintained by a joint insurance fund, whether for administrative, contingency or claims or loss purposes, shall be invested to obtain the maximum interest return practicable. All investments shall be in accordance with the fund's cash management plan and consistent with the statutes and rules governing the investment of public funds of local governments and pursuant to N.J.S.A. 40A:10-10b. In addition, the fund commissioners may transfer monies held to the Director of the Division of Investment in the Department of the Treasury for investment on behalf of the fund in accordance with standards governing the investment of other funds which are managed under the rules of the State Investment Council, N.J.A.C. 17:16. Any monies transferred to the Director for investment may not thereafter be withdrawn except under the conditions set forth in N.J.S.A. 40A:10-38b.
(b) The investment and interest income earned by the investment of the assets of each claim or loss retention fund account shall be allocated to each account by fund year.
(c) The investment and interest income earned by investment of the assets of the administrative and contingency accounts shall be credited to each such account.

N.J. Admin. Code § 11:15-3.19

Amended by R.1996 d.535, effective 11/18/1996.
See: 28 New Jersey Register 4036(a), 28 New Jersey Register 4885(a).