N.J. Admin. Code § 7:1J-2.5 - Overlapping claims

Current through Register Vol. 54, No. 7, April 4, 2022

(a) A claim shall not be eligible for compensation from the Fund to the extent that the Fund has already paid or settled another claim for the same damages.
(b) If two or more claims include an assertion of the same damages, the administrator shall apportion payment for such damages among the claimants or exclude certain of the claims from payment. The administrator shall base the apportionment or exclusion upon the administrator's determination of which claimants have actually incurred the damages in question.
(c) On or after March 2, 2009, the purchaser of a property on which a POET has been installed and maintained at the expense of the Fund may not make a claim for compensation from the Fund for ongoing POET operation, monitoring and maintenance costs. The seller of a property on which a POET has been installed and maintained at the expense of the Fund shall notify the Department in writing within 30 days of executing a binding contract of sale for that property.

Notes

N.J. Admin. Code § 7:1J-2.5
Amended by R.2009 d.75, effective 3/2/2009.
See: 40 N.J.R. 5101(a), 41 N.J.R. 1019(a).
Added (c).

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