N.J. Admin. Code § 11:15-2.5 - Bylaws and plan of risk management; filing requirements
(a) Each joint
insurance fund shall file with the Department for approval by the Commissioner
and the Commissioner of the Department of Community Affairs, as provided in
N.J.S.A.
40A:10-41, its bylaws and plan of risk
management and any amendments thereto. In addition, the initial filing shall
contain and be accompanied by the information and documentation specified at
N.J.A.C.
11:15-2.6, and such other information as the
Commissioner may request. All filings shall be in loose-leaf form inserted into
standard two-ring or three-ring binders tabbed or otherwise indexed to
correspond to the requirements set forth in
N.J.A.C.
11:15-2.6. The loose-leaf sheets used shall
be eight and one-half inches wide by 11 inches long and punched for two-ring
and three-ring binders, as appropriate. The fund shall submit five copies of a
filing in the format set forth in this subsection to the Department and one
copy to the Department of Community Affairs. All information shall be submitted
completely and accurately.
(b) All
of the information and documentation set forth in
N.J.A.C.
11:15-2.6 shall constitute the fund's bylaws
and plan of risk management for purposes of
N.J.S.A.
40A:10-41. No joint insurance fund shall
begin providing insurance coverage to its member units until its bylaws and
plan of risk management, including all of the information required pursuant to
N.J.A.C.
11:15-2.6, have been approved by the
Commissioner.
(c) No amendment to a
fund's bylaws or plan of risk management shall take effect until such amendment
is approved by the Commissioner.
(d) Within 10 days following any change in
the information or documentation required to accompany the filing of the fund's
bylaws or amendments thereto, as provided in (a) above, the fund shall file
notice of the change, with the Department and the Department of Community
Affairs.
(e) The bylaws and plan of
risk management and all information required to accompany the initial filing
shall set forth an identifying number or code and the filing date on each page
of the specific document filed. For example, each page of the bylaws shall set
forth an identifying number or code; each page of the plan of risk management
shall set forth a different identifying number or code; the sample resolution
and trust agreement shall set forth a different identifying number or code;
etc. Any amendment or supplemental form to any information previously filed
shall contain the original identifying number or code, indicate that the
document is an amendment or supplement to the information previously filed, and
set forth the date of revision.
(f)
In addition to the information set forth in
N.J.A.C.
11:15-2.6, the fund shall provide a cover
letter stating the name, telephone number(s) and telefax number(s) of two
contact persons (one primary, one secondary) familiar with the filing to whom
the Department may direct any questions, as well as the fund's official mailing
address for the purpose of disseminating Department information, in accordance
with N.J.A.C. 11:1-25.
(g) All
information required to be submitted shall be sent to the Department and the
Department of Community Affairs at:
1. New
Jersey Department of Banking and Insurance
Division of Financial Examinations
Attn: Municipal JIF Admissions
20 West State Street
PO Box 325
Trenton, NJ 08625-0325; and
2. New Jersey Department of Community Affairs
Division of Local Government Services
101 South Broad Street
PO Box 803
Trenton, NJ 08625-0803
Notes
See: 17 New Jersey Register 218(a).
(a) substantially amended.
Adopted by R.1985 d.128, effective
See: 17 New Jersey Register 218(a), 17 New Jersey Register 709(a).
Amended by R.1995 d.408, effective
See: 26 New Jersey Register 2725(a), 26 New Jersey Register 3592(a), 27 New Jersey Register 2938(a).
Substantially amended (a) and (b) and added (e) through (g).
Amended by R.1996 d.534, effective
See: 28 New Jersey Register 4027(a), 28 New Jersey Register 4877(a).
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