N.J. Stat. § 40A:10-42 : — MUNICIPALITIES AND COUNTIESPOWER TO INSURE —42 - Provision of insurance coverage after approval TEXT PDF Upon the approval of its bylaws and plan of risk management pursuant to the provisions of section 6 of this act, a joint insurance fund may provide insurance coverage to its member local units by self-insurance, the purchase of commercial insurance or reinsurance, or any combination thereof. N.J.S. § 40A:10-42 L.1983, c.372, s.7, eff. 10/28/1983.