34:15-133. Powers of board

186 words·~1 min read·/nj/title-34/chapter-15/34-15-133

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

5. The board shall have the power to:

a. purchase and serve as the master policyholder for any insurance, or self-insure pursuant to R.S.34:15-77, for the purposes of this act;

b. enter into contracts with other persons, entities or public bodies for any professional, administrative or other services, including legal counsel if approved by the Attorney General, as may be necessary to carry out the duties of the board and the purposes of this act;

c. assess, collect and disburse all money due or payable to or by the board, or authorize such collection and disbursement;

d. invest moneys held in trust under any fund in investments which are approved by the State Investment Council for the investment of surplus moneys of the State;

e. approve assessments, surplus, limits of coverage, limits of excess or reinsurance, coverage documents and other financial and operating policies of the board;

f. promulgate rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the purposes of this act; and

g. take all actions necessary to carry out the provisions of this act.

L.1995,c.329,s.5.