New Jersey § 40a:10-39
Full text of New Jersey New Jersey Statutes § 40a:10-39, with citation guidance and answers to common questions.
§ 40a:10-39.
The commissioners shall prepare and, after the approval, by resolution, of the governing
body of each participating local governmental unit, shall adopt bylaws for the joint
insurance fund. The bylaws shall include, but not be limited to: a. Procedures for the organization and administration of the joint insurance fund,
the insurance fund commission and, if appropriate, the executive board of the fund. The procedures may include the designation of one member local unit to serve as
the lead agency to be responsible for the custody and maintenance of the assets of
the fund and such other duties as may be assigned by the commissioners of the fund; b. Procedures for the assessment of members for their contributions to the fund and
for the collection of contributions in default; c. Procedures for the maintenance and administration of appropriate reserves in accordance
with sound actuarial principles; d. Procedures for the purchase of commercial direct insurance or reinsurance, if any; e. Contingency plans for paying losses in the event that the fund is exhausted; f. Procedures governing loss adjustment and legal fees; g. Procedures for the joining of the fund by a non-member local unit; h. Procedures for the withdrawal from the fund by a local unit; i. Procedures for the expulsion of a member local unit; j. Procedures for the termination and liquidation of the joint insurance fund and
the payment of its outstanding obligations; k. Such other procedures and plans as the Commissioner of the Department of Insurance
may require by rule and regulation.
Frequently Asked Questions About New Jersey § 40a:10-39
What does New Jersey Statutes § 40a:10-39 cover?
Section 40a:10-39 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 40a:10-39?
A common citation format is "New Jersey Statutes § 40a:10-39" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 40a:10-39 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.