N.J. Admin. Code § 11:15-2.18 - Individual loss reserve funds

(a) Whenever the risk management plan of a joint insurance fund requires the fund's members to individually retain a specific amount of risk, potential liability, or incurred losses, the participant shall provide for such liability, or incurred loss:

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

2. Through a separate item of appropriation for the fund year in its annual budget; or

3. Through establishment of an insurance fund pursuant to N.J.S.A. 40A:10-1 et seq.

Notes

N.J. Admin. Code § 11:15-2.18

Amended by R.1995 d.408, effective 8/7/1995.
See: 26 New Jersey Register 2725(a), 26 New Jersey Register 3592(a), 27 New Jersey Register 2938(a).
In (a)2 changed year of appropriation to the fund year.