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Section App.A:9-57.18 - Reserves

NJ Rev Stat § App.A:9-57.18 (2019) (N/A)
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App.A:9-57.18. Reserves

Within five years after the direction by the Legislature by joint resolution to such effect, the Claim Committee shall determine the amount of outstanding liabilities of the special fund and shall establish reasonable reserves to pay to claimants weekly benefits for total disability, expenses of medical and hospital care and death benefits, and to meet the cost of administering any unpaid claims and the same shall become a charge against the fund. Any balance in the fund after the establishment of such reserves shall lapse into the State treasury.

L.1952, c. 12, p. 60, s. 18.

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Section App.A:9-57.17 - Special fund the sole source for payment of benefits
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Section App.A:9-57.19 - Expense of administering act