New Jersey § 18a:65-100

§ 18a:65-100.

In transferring the assets of the University of Medicine and Dentistry of New Jersey

to Rutgers, The State University, it is the intention of the Legislature to protect

Rutgers, The State University, and to hold it harmless, subject to future appropriation,

for unexpected costs or losses associated with undisclosed liabilities of the University

of Medicine and Dentistry of New Jersey that were not reasonably foreseeable or contemplated

at the time of the transfers required by this act. Therefore, if Rutgers, The State University experiences, during fiscal years 2014

and 2015, costs or losses associated with liabilities of the University of Medicine

and Dentistry of New Jersey that were not identified in the certified financial statements

of the University of Medicine and Dentistry of New Jersey for the time periods preceding

the incurrence of the cost or loss, the State shall reimburse Rutgers, The State University

for such cost or loss, subject to appropriation by the Legislature.