2009 New Jersey Code
TITLE 34 - LABOR AND WORKMEN'S COMPENSATION
34:15
34:15-77.4 - Termination of plan;  surety bond;  insurance policy

34:15-77.4.  Termination of plan;  surety bond;  insurance policy
    If such a group self-insurance plan is terminated, the securities or surety  bond on deposit with the commissioner shall remain in the custody of the  commissioner for a period of at least 26 months.  At the expiration of such  time or such further period as the commissioner may deem proper and necessary,  he may accept in lieu thereof, and for the additional purpose of securing such  further and future contingent liability as may arise from prior injuries to  workers and be incurred by reason of any change in the condition of such  workers which warrant awards for additional compensation, a policy of insurance  furnished by the group self-insurer, its successor, assigns, or others carrying  on or liquidating such self-insurance group.

     L.1983, c. 376, s. 5, eff. Nov. 10, 1983.
 

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