N.J. Admin. Code § 11:15-3.9

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:15-3.9 - Approval of non-member local units

(a) Prospective new members of the fund shall submit an application for membership to the fund's commission, or executive committee, as applicable, on a form acceptable to the Commissioner. The application shall include a copy of the resolution of participation and executed indemnity and trust agreement. The commission or executive committee may approve or disapprove the application for additional members, pursuant to the admissions criteria and bylaws of the fund.

(b) Any application approved by the fund shall within 15 days of approval by the fund be filed with the Department and Department of Community Affairs, and shall be accompanied by a revised budget with assessment detail, if the addition of the new member changes the total budget five percent from the original budget or the latest filed amended budget, as well as any amendments to fund's bylaws or plan of risk management as may be necessary. The fund shall file only the specific changes to the bylaws or plan of risk management in effect for the current fund year. In addition, the fund shall file the following information in the form of Exhibit D in the Appendix incorporated herein by reference, with the Department within 15 days after approval of a new member:

1. The name and address of the new member;

2. The effective date of coverage;

3. The name of the new member's risk manager;

4. The name of the new member's insurance fund commissioners and alternates in accordance with N.J.A.C. 11:15-3.6(e);

5. The lines of coverage for which the new member participates;

6. The amount of assessment, if not otherwise provided; and

7. An affirmative statement from the fund that in accepting the new member, an application has been filed, the fund has adhered to its bylaws and plan of risk management, and the agreement to participate and indemnity and trust agreement have been filed with the fund.

(c) If a non-member local unit is not approved for membership, the fund shall set forth in writing the reasons for disapproval and send the reasons for disapproval to the non-member local unit. The fund shall retain a copy of all disapprovals for five years.

N.J. Admin. Code § 11:15-3.9

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