N.J. Stat. Ann. § 18A:64-93

8. The Commissioner of Banking and Insurance shall promulgate rules and regulations necessary to effectuate the purposes of this act pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). The rules and regulations shall include, but not be limited to, the establishment, operation, modification and dissolution of a public college joint liability fund established pursuant to the provisions of P.L.2010, c.99 (C.18A:64-86 et seq.).