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New Jersey Statutes, Title: 17B, INSURANCE

    Chapter 18: Scope of chapter

      Section: 17B:18-45: Authority to acquire, hold and convey real estate

           Any domestic insurer, in addition to the authority contained in sections 17B:20-1 to 17B:20-5, inclusive, may acquire, hold and convey any real estate as may be convenient in its operations, provided that if the commissioner shall determine after a hearing pursuant to the Administrative Procedure Act (P.L.1968, c. 410) and any rules adopted thereunder, that the interest of such insurer's policyholders requires that any specific real estate so acquired be disposed of, then such insurer shall dispose of such real estate within such reasonable time as the commissioner shall direct.

L.1971, c. 144, s. 17B:18-45.



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






Older versions of 17b:18-45 (if available):



Court decisions that cite this statute: CLICK HERE.