N.J. Admin. Code § 11:15-7.18

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:15-7.18 - Individual loss reserve funds

(a) Whenever the risk management program of a group requires any members of the group to retain individually a specified amount of risk, potential liability, or incurred losses, the participant shall provide for such liability, or incurred losses:

1. As a deductible to be charged to the operating expenses of the incurring member; or

2. Through a separate item of appropriation for the loss year in its annual budget.

N.J. Admin. Code § 11:15-7.18