17:48A-23 - Grants for needy persons - New Jersey Statutes

17:48A-23.  Grants for needy persons
    A medical service corporation may receive and accept from any governmental agencies any grant or allocation of funds for the purpose of providing payment for medical services, and hospital services when rendered incident thereto, to eligible persons under such terms or conditions as shall be specified by such agency.  Any medical service corporation may in its discretion accept the grant  of funds from private agencies, corporations, associations, groups of individuals or individuals for the purpose of providing medical services to needy persons under such conditions as shall be satisfactory to such persons or  organizations and to the corporation.  All funds received under such grants  shall be segregated in a separate fund or funds to be used for the purposes  agreed upon. Neither the income from subscribers to the corporation, nor the  assets accumulated from income received from subscribers shall be available for the payment of any obligations assumed by the corporation under such grants, nor shall any funds received through such grants be available for the payment  of the obligations assumed by the corporation under its subscription  certificates.  The authority of the Commissioner of Banking and Insurance under  the provisions of this act shall not extend to funds received under such grants  except to such extent as is necessary to satisfy him that the requirements of  this act have been complied with.

     L.1940, c. 74, p. 197, s. 23.  Amended by L.1946, c. 259, p. 902, s. 1.