N.J.S.A. 34:15-132 — "New Jersey Horse Racing Injury Compensation Board" established

34:15-132. "New Jersey Horse Racing Injury Compensation Board" established 4. There is hereby established the "New Jersey Horse Racing Injury Compensation Board," which shall be in, but not of, the Department of Law and Public Safety. a. The board shall consist of seven members as follows: the Commissioner of Banking and Insurance, or his designee; the Attorney General, or his designee; one member of the New Jersey Racing Commission elected by the members of the commission, or his designee; and four members of the horse racing industry appointed by the Governor, one of whom shall represent the thoroughbred industry, one of whom shall represent the standardbred industry, one of whom shall represent the racetrack owners and one of whom shall represent jockeys regularly riding at New Jersey racetracks. In making these appointments, the Governor shall take into consideration the recommendations of the thoroughbred and standardbred industries, the racetrack owners and the organization which represents the largest number of jockeys regularly riding at New Jersey racetracks, respectively. b. Members of the board shall serve without compensation but may be reimbursed for their expenses out of the administrative funds of the board. c. The affirmative vote of at least four members shall constitute a majority for the transaction of any business and a quorum shall consist of a simple majority. L.1995,c.329,s.4; amended 1997,c.103,s.1. 34:15-133. Powers of board 5. The board shall have the power to: a. purchase and serve as the master policyholder for any insurance, or self-insure pursuant to R.S.34:15-77, for the purposes of this act; b. enter into contracts with other persons, entities or public bodies for any professional, administrative or other services, including legal counsel if approved by the Attorney General, as may be necessary to carry out the duties of the board and the purposes of this act; c. assess, collect and disburse all money due or payable to or by the board, or authorize such collection and disbursement; d. invest moneys held in trust under any fund in investments which are approved by the State Investment Council for the investment of surplus moneys of the State; e. approve assessments, surplus, limits of coverage, limits of excess or reinsurance, coverage documents and other financial and operating policies of the board; f. promulgate rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the purposes of this act; and g. take all actions necessary to carry out the provisions of this act. L.1995,c.329,s.5.

This is the verbatim text of N.J.S.A. 34:15-132, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.