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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 48c: Objects and purposes
Section: 17:48c-25: Investments; surplus
The funds of any dental service corporation may be invested only in accordance with the requirements now or hereafter provided by law for the investment of funds of life insurance companies. Every dental service corporation after the first full calendar year of doing business after the effective date of this act, shall accumulate and maintain a special contingent surplus over and above its reserves and liabilities at the rate of 2\% annually of its net contract and certificate income until such surplus shall be not less than $100,000.00, except that no such corporation shall be required to maintain a special contingent surplus exceeding 55\% of its average annual contract and certificate income for the previous 5 years.
L.1968, c. 305, s. 25, eff. Sept. 26, 1968.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:48c-25 (if available):
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