58:10-23.11r - Awards in excess of current balance of fund; payment on pro rata basis; priorities - New-jersey Statutes

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Statutes > New-jersey > Title-58 > Section-58-10 > 58-10-23-11r

58:10-23.11r. Awards in excess of current balance of fund; payment on pro rata basis; priorities
In the event that the total awards for a specific occurrence exceed the current balance of the fund, the immediate award shall be paid on a prorated basis, and all claimants paid on a prorated basis shall be paid, as determined by the administrator, a pro rata share of all funds received by the fund until the total amount of the proven damages is paid to the claimant or claimants. The administrator may also provide through regulation to fix the priority for the payment of claims based on extreme hardship.

L.1976, c. 141, s. 19.

State Codes and Statutes

Statutes > New-jersey > Title-58 > Section-58-10 > 58-10-23-11r

58:10-23.11r. Awards in excess of current balance of fund; payment on pro rata basis; priorities
In the event that the total awards for a specific occurrence exceed the current balance of the fund, the immediate award shall be paid on a prorated basis, and all claimants paid on a prorated basis shall be paid, as determined by the administrator, a pro rata share of all funds received by the fund until the total amount of the proven damages is paid to the claimant or claimants. The administrator may also provide through regulation to fix the priority for the payment of claims based on extreme hardship.

L.1976, c. 141, s. 19.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-jersey > Title-58 > Section-58-10 > 58-10-23-11r

58:10-23.11r. Awards in excess of current balance of fund; payment on pro rata basis; priorities
In the event that the total awards for a specific occurrence exceed the current balance of the fund, the immediate award shall be paid on a prorated basis, and all claimants paid on a prorated basis shall be paid, as determined by the administrator, a pro rata share of all funds received by the fund until the total amount of the proven damages is paid to the claimant or claimants. The administrator may also provide through regulation to fix the priority for the payment of claims based on extreme hardship.

L.1976, c. 141, s. 19.