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New Jersey Statutes, Title: 17B, INSURANCE

    Chapter 28a: Insurance against risk of loss in value of redeemable securities issued by investment company

      Section: 17B:28a-3: Undertaking or continuance; approval of commissioner; rules and regulations

           No domestic insurer shall undertake or continue the issuance of any such insurance unless the commissioner is satisfied that the condition or methods of operation of such domestic insurer in connection with the issuance of policies of such insurance is not such as to render its operation hazardous to the public or its policyholders. The commissioner may adopt rules and regulations as may be reasonable and appropriate to carry out the purposes hereof, including the establishment of limitations on the amount of liabilities under such policies that might be assumed by the domestic insurer.

L.1977, c. 374, s. 3, eff. Feb. 8, 1978.



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






Older versions of 17b:28a-3 (if available):



Court decisions that cite this statute: CLICK HERE.