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N.J. Stat. Ann. § 17:37A-23

Insufficiency of fund to pay claims; appropriation

Known as the New Jersey Automobile Full Insurance Availability Act

The act spans §§ 17:10B-1 to 17:9A-99 (3,637 sections).

L.1968, c. 129, s. 23, eff

If in any year or at any time the fund as hereinabove established is insufficient to pay claims chargeable to the fund to the extent of 5% of the most recent full calendar year basic property insurance premiums written by authorized insurers in this State, the commissioner shall certify to the Governor the amount of such insufficiency and such amount shall be appropriated and paid to the fund, which said amount so paid shall be returned to the treasury of this State from proceeds of the surcharge collected pursuant to this act.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.