[Adopted 11-24-1998 by Ord. No. 98-13 as
Ch. 9, Art. X, of the 1998 Code]
There is hereby created and established an Insurance
Fund Commission consisting of three Commissioners.
The Insurance Fund Commission shall have all
the powers, authority and duties permitted by N.J.S.A. 40A:10-10,
as amended from time to time, including but not limited to investment
of the insurance fund, adoption of rules and regulations for control
and investment of the fund, payment of claims, and order and pay for
such insurance deemed reasonable and necessary as budgeted by the
Township Council. The Commission shall make written report and recommendation
to the Township Council as to the state of the Township's insurance
program and the adequate staffing of the Commission.
Insurance Fund Commissioners shall be appointed
by the Township Council and shall serve without compensation. The
Commissioners shall be officials of the Township government and may
be members of the Township Council. Each Commissioner shall hold office
for two years or for the remainder of his term of office, whichever
is less, and until his successor shall have been duly appointed and
qualified. Vacancies shall be filled for the unexpired term.
Upon appointment of the three Commissioners,
they shall meet and organize for the ensuing year and elect from their
membership a Chairperson who shall serve for that year.
The Township Council shall appoint a Secretary
to the Insurance Fund Commission, who shall serve at the pleasure
of the Insurance Fund Commission, at a salary to be set by ordinance
as deemed appropriate by the Township Council.
The Secretary to the Insurance Fund Commission
shall have such duties as are prescribed by rules and regulations
of the Insurance Fund Commission and shall report to the Commission
as required.
