There is hereby established an insurance fund
for the Borough of Seaside Heights. The insurance fund is created
pursuant to and for the purposes set forth in N.J.S.A. 40A:10-6.
There is hereby established a Seaside Heights
Insurance Fund Commission, which shall be an official agency of the
Borough of Seaside Heights.
The Insurance Fund Commission shall consist
of three officials of the Borough of Seaside Heights to serve as Insurance
Fund Commissioners. Members of the governing body may be appointed
as Insurance Fund Commissioners. The Insurance Fund Commissioners
shall organize and select one person to serve as Chairperson of the
Insurance Fund Commissioners for a one-year term. The Insurance Fund
Commissioners shall serve without compensation.
Insurance Fund Commissioners shall be appointed
for two years or for the remainder of their term of office as officials
of the municipality, whichever shall be less, and until their successors
have been duly appointed and qualified. Vacancies in the office of
Insurance Fund Commissioner caused by any reason other than the expiration
of term as an official shall be filled for the unexpired term.
A.
The Insurance Fund Commissioners shall have those
powers and authorities set forth in N.J.S.A. 40A:10-10.
B.
The Insurance Fund Commissioners shall appoint an
individual to serve as Secretary to the Insurance Fund Commission.
The Secretary shall serve at the pleasure of the Commission and receive
such salary as is authorized by the governing body.
