17:37A-23 - Insufficiency of fund to pay claims; appropriation - New Jersey Statutes

17:37A-23.  Insufficiency of fund to pay claims;  appropriation    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.

     L.1968, c. 129, s. 23, eff. July 1, 1968.  Amended by L.1977, c. 185, s. 4, eff. Aug. 22, 1977.