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17:30D-13. Emergency powers of commissioner upon activation of association; duration
New Jersey Statutes (Unannotated) / NEW JERSEY GENERAL AND PERMANENT STATUTES (UPDATED THROUGH P.L.2023, c.256, and J.R.18) / TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
...
17
:
30D-13
.
Emergency
powers
of
commissioner
upon
activation
of
association
;
duration
17
:
30D-13
.
Emergency
powers
of
commissioner
upon
activation
of
association
;
duration
Upon
finding that immediate
activation
of the
association
for any category or subcategory of insureds is required because medical malpractice liability insurance is or will be unavailable for such category or subcategory, the...
...
commissioner
shall have the following
emergency
powers
: a. To appoint a temporary board of directors or operate the
association
without such board. b. To adopt a temporary plan of operation to meet the immediate needs of the
association
. c. To perform on behalf of the
association
on a temporary basis all functions necessary for the operation of the
association
otherwise delegated to the board of directors or the members of the
association
. d. To charge the association for reasonable expenses incurred on its behalf in the emergency operation of the association pursuant to this section. e. Subject...
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