New Jersey Statutes 48:2-21.11. Moneys received as reimbursement for costs incurred from insurance carrier or as result of legal action or settlement as moneys available
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Terms Used In New Jersey Statutes 48:2-21.11
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
In determining just and reasonable rates for any electric utility pursuant to R.S. 48:2-21, R.S. 48:2-21.1, or section 31 of P.L.1962, c. 198 (C. 48:2-21.2), the Board of Public Utilities shall provide that any moneys received by the utility as reimbursement for costs incurred, including those for replacement energy, from any insurance carrier, or as a result of any legal action or settlement shall be accounted for as moneys available to the utility.
L.1983, c. 461, s. 1, eff. Jan. 12, 1984.