§ 17B:27A-32. Authority of board

New Jersey § 17B:27A-32. Authority of board

• Jurisdiction: New Jersey
• Title 17B: INSURANCE

Text

16. The board shall have the authority to: a. Enter into contracts as are necessary or proper to carry out the provisions and purposes of this act; b. Sue or be sued, including taking any legal actions as may be necessary for recovery of any assessments due to the program or to avoid paying any improper claims; c. Establish rules, conditions, and procedures pertaining to the assessment of members by the program; d. Assess members in accordance with the provisions of this act, including such interim assessments as may be reasonable and necessary for organizational and reasonable operating expenses. Such interim assessments shall be credited as offsets against any regular assessments due following the close of the fiscal year; e. Appoint from among its members appropriate legal, actuarial, and other committees as necessary to provide technical assistance in the operation of the program, policy and other contract design, and any other function within the authority of the program; and f. Contract for an independent actuary or any other professional services the board deems necessary to carry out its duties under P.L.1992, c.162 (C.17B:27A-17 et seq.). L.1992,c.162,s.16; amended 1993,c.162,s.19; 1995,c.298,s.8.