Skip to main content
THIS SITE
PREVIOUS SECTION Go back to sections Go back to the chapter Go back to the N.J. Statutes homepage NEXT SECTION


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

    Chapter 48e:

      Section: 17:48e-46.7: Investments; supplier program; mutualization; reorganization plans

          7. a. A mutual holding company or a non-insurance subsidiary may, alone or together, make any lawful investments including directly or indirectly acquiring or otherwise holding the stock or other ownership interests of any nonprofit or for-profit entities.
b. Insurance company subsidiaries and the reorganized insurer may make investments, including investments in non-insurance entities subject to investment and asset limitations pursuant to applicable laws and rules relating to insurance companies.
c. The mutual holding company and its non-insurance and insurance company subsidiaries shall continue to operate a diverse supplier program that promotes and invests in the utilization of minority-owned and women-owned businesses in the procurement of goods and services, including professional services. The mutual holding company shall include in its annual filing pursuant to subsection b. of section 11 of P.L.2020, c.145 (C.17:48E-46.11) information on this subsection.

L.2020, c.145, s.7.

This section added to the Rutgers Database: 2021-03-05 18:41:53.






Older versions of 17:48e-46.7 (if available):



Court decisions that cite this statute: CLICK HERE.