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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 46b: Certain words defined
Section: 17:46b-24: Investments acquired before effective date
Any investment of a title insurance company lawfully acquired before the effective date of this act and which but for this section would be considered ineligible as an investment on such effective date shall be disposed of within 5 years from such effective date. The commissioner, upon application and proof that forced sale of any such investment would be contrary to the best interests of the title insurance company and its policyholders, may extend the period for sale or disposal of such investment for a further reasonable time, in no event to exceed 3 years.
L.1975, c. 106, s. 24, eff. May 29, 1975.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:46b-24 (if available):
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