N.J. Admin. Code § 11:15-7.3

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

Section 11:15-7.3 - Agreement to join risk management group; duration

(a) Any two or more State colleges may form or become members of a State college risk management group. A State college may take this action by resolution of the board of trustees of the State college.

(b) The resolution shall provide for execution of a written agreement with the group specifically conditioning membership on acceptance and adoption of the group's bylaws. The agreement shall specify the extent of the member's participation in the group with respect to the types of insurance coverage to be provided by the group and shall include the duration of group membership if applicable. The agreement shall specify that the group members have not been cancelled for nonpayment of insurance premiums for a period of at least two years prior to application. Members may renew their participation by the execution of a new agreement to join the risk management group. In lieu of filing copies of the new agreement and indemnity and trust agreement referred to in 11:15-7.6(c)10 for each member's renewal of membership, the group shall file a notice with the Department which sets forth the members that have renewed membership and the respective durations of such membership renewal, as well as the members that have not rejoined.

(c) A risk management group formed pursuant to 18A:64-86 et seq. and this subchapter shall have the power to insure, contract or provide for any insurable interest of the member solely for the following:

1. Any loss or damage to the member's property, real or personal, motor vehicles, equipment or apparatus;

2. Any loss or damage from liability as established by the New Jersey Contractual Liability Act, 59:13-1 et seq.;

3. Loss or damage from liability as established by 34:15-1 et seq.; and

4. Expenses of defending any claim against the State college, trustee, officer, employee or servant arising out of and in the course of performance of their duties, whether or not liability exists on the claim, not eligible for defense and indemnification by the State of New Jersey in accordance with the New Jersey Tort Claims Act, 59:1-1 et seq.

N.J. Admin. Code § 11:15-7.3