New Jersey § 34:15-77.4 Termination of plan;  surety bond;  insurance policy

New Jersey Statutes

§ 34:15-77.4 — Termination of plan; surety bond; insurance policy

New Jersey § 34:15-77.4

Title 34LABOR AND WORKMEN'S COMPENSATION

This text of New Jersey § 34:15-77.4 (Termination of plan; surety bond; insurance policy) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 34:15-77.4 (2026).

Text

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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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.