39:6-85 Subrogation.
194 words·~1 min read·
/nj/title-39/chapter-6/39-6-85A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
25. Subrogation. When judgment has been obtained against the association in an action brought under this act, the association shall, upon payment from the fund of the amount of the judgment to the extent provided in this act, be subrogated to the cause of action of the judgment creditor against the operator and owner of the motor vehicle by which the accident was occasioned and shall bring an action against either or both of such persons for the amount of the damage sustained by the judgment creditor when and in the event that the identity of either or both of such persons shall be established, and shall recover the same out of any funds which would be payable in respect to the death or injury under any policy of insurance, which was in force at the time of the accident and in event that more is recovered and collected in any such action than the amount paid out of the fund by reason of the judgment, the association shall pay the balance, after reimbursing the fund, to the judgment creditor.
L.1952,c.174,s.25; amended 1955, c.1, s.16; 1968, c.323, s.7; 1985, c.148, s.18; 2003, c.89, s.29.