New Jersey Statutes Title 17B. Insurance 17B § 32B-5

There is created a nonprofit legal entity to be known as the New Jersey Insolvent Health Maintenance Organization Assistance Association. All health maintenance organizations authorized to transact business in this State shall be and remain members of the association as a condition of their authority to transact business in this State. The association shall perform its functions under the plan of operation established and approved pursuant to section 10 of this act  1 and shall exercise its powers through a board of directors established pursuant to section 7 of this act. 2 The association shall be supervised by the commissioner and is subject to the provisions of this act.