New Jersey Statutes 17B:27A-32. Authority of board
Terms Used In New Jersey Statutes 17B:27A-32
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
a. Enter into contracts as are necessary or proper to carry out the provisions and purposes of this act;
b. Sue or be sued, including taking any legal actions as may be necessary for recovery of any assessments due to the program or to avoid paying any improper claims;
c. Establish rules, conditions, and procedures pertaining to the assessment of members by the program;
d. Assess members in accordance with the provisions of this act, including such interim assessments as may be reasonable and necessary for organizational and reasonable operating expenses. Such interim assessments shall be credited as offsets against any regular assessments due following the close of the fiscal year;
e. Appoint from among its members appropriate legal, actuarial, and other committees as necessary to provide technical assistance in the operation of the program, policy and other contract design, and any other function within the authority of the program; and
f. Contract for an independent actuary or any other professional services the board deems necessary to carry out its duties under P.L.1992, c.162 (C. 17B:27A-17 et seq.).
L.1992,c.162,s.16; amended 1993,c.162,s.19; 1995,c.298,s.8.