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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

    Chapter 12b: Construction as revision of prior laws

      Section: 17:12b-140: Payment of withdrawals on other plans and purchase of accounts prohibited; authority of commissioner

           No State association shall obligate itself to pay withdrawals on any other plan than that provided in this act, nor shall any State association purchase an account from any member; provided, however, the commissioner may, whenever in his judgment the circumstances so warrant, direct any State association to suspend the payment of withdrawals or to pay withdrawals under any plan or plans the commissioner is authorized to impose under the provisions of sections 179, 180 and 182 of this act.

L.1963, c. 144, s. 140.



This section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 17:12b-140 (if available):



Court decisions that cite this statute: CLICK HERE.