New Jersey § 39:6-30

§ 39:6-30.

Security deposited in compliance with the requirements of this act shall be applicable

only to the payment of a judgment or judgments rendered against the person or persons

on whose behalf the deposit was made, for damages arising out of the accident in question

in a civil action, begun not later than 1 year after the date of such accident, or

within 1 year after the date of deposit of any security under subparagraph (c) of

section 5 of this act, 1 or to the payment in settlement, agreed to by the depositor, of a claim or claims

arising out of such accident or to the reimbursement of the Unsatisfied Claim and

Judgment Fund for the payment of personal injury protection benefits pursuant to section

7 or section 10 of P.L. 1972, c. 198 (Assembly Bill No. 803 presently pending in the

Legislature). 2 Such deposit or any balance thereof shall be returned to the depositor or his personal

representative when evidence satisfactory to the director has been filed with him

that there has been a release from liability, or a final adjudication of nonliability,

or a duly acknowledged agreement in accordance with subparagraph (d) of section 4

of this act, 3 and in the event of an accident involving an automobile required to have coverage

for personal injury protection benefits pursuant to P.L.1972, c. 70, if the depositor

has also met the additional requirements of section 4(d) of P.L.1952, c. 173 ( C. 39:6-26 ) pertaining to such automobile or whenever, after the expiration of 1 year (1) from

the date of the accident, or (2) from the date of any security under subparagraph

(c) of section 5 of this act, the director shall be given reasonable evidence that

there is no such action pending and no judgment rendered in such action left unpaid

and no amount in reimbursement, to the Unsatisfied Claim and Judgment Fund for payment

of personal injury protection benefits, remains unpaid by such person. 1

N.J.S.A. § 39:6-27. 2

N.J.S.A. §§ 39:6-86.1, 39:6-86.4. 3

N.J.S.A. § 39:6-26.