53:5A-19 - Payment of premiums from group insurance premium fund
53:5A-19.Ā Payment of premiums from group insurance premium fund
In the event the State Treasurer shall determine to purchase group insuranceĀ coverage for the death benefits, premiums for the same shall be paid from aĀ special fund, hereby created, called theĀ "Group Insurance Premium Fund." TheĀ State Treasurer shall estimate annually the amount which will be required forĀ premiums for such benefits for the ensuing fiscal year. The State shall payĀ over to the State Treasurer the amount so required who shall deposit it in theĀ Group Insurance Premium Fund.Ā During the period such group insurance policy orĀ policies are in effect the State Treasurer shall in no way commingle moneys inĀ this fund with any pension fund established by this act.
L.1965, c. 89, s. 19, eff. July 1, 1965.Ā Amended by L.1966, c. 153, s. 10, eff. June 18, 1966.
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In the event the State Treasurer shall determine to purchase group insuranceĀ coverage for the death benefits, premiums for the same shall be paid from aĀ special fund, hereby created, called theĀ "Group Insurance Premium Fund." TheĀ State Treasurer shall estimate annually the amount which will be required forĀ premiums for such benefits for the ensuing fiscal year. The State shall payĀ over to the State Treasurer the amount so required who shall deposit it in theĀ Group Insurance Premium Fund.Ā During the period such group insurance policy orĀ policies are in effect the State Treasurer shall in no way commingle moneys inĀ this fund with any pension fund established by this act.
L.1965, c. 89, s. 19, eff. July 1, 1965.Ā Amended by L.1966, c. 153, s. 10, eff. June 18, 1966.
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