N.J.S.A. 40A:10-36.1 — "Local unit" for purposes of C.40A:10-36 et seq.

40A:10-36.1 "Local unit" for purposes of C.40A:10-36 et seq. 11. For the purposes of P.L.1983, c.372 (C.40A:10-36 et seq.), "local unit" shall be deemed to include boards of education which join together with municipalities pursuant to P.L.1992, c.51 (C.40A:10-52 et al.). L.1992, c.51, s.11; amended 2007, c.18, s.2. 40A:10-36.2. Establishment of joint insurance revolving fund, use of appropriated moneys 12. The governing body of any local unit that has established a joint insurance fund may by resolution or ordinance, as appropriate, establish a joint insurance revolving fund into which may be deposited any refunds paid to the local unit by the joint insurance fund to be dedicated for the payment of liabilities to the fund in future years. In no event shall amounts deposited in a joint insurance revolving fund exceed the annual amount contributed by the local unit to the joint insurance fund during the prior year. Moneys appropriated from the joint insurance revolving fund shall be used by the local unit to cover losses attributable to claims being paid by the joint insurance fund in future years which exceed contributions paid into the joint insurance fund by the local unit. L.1996,c.113,s.12.

This is the verbatim text of N.J.S.A. 40A:10-36.1, 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.