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New Jersey Statutes, Title: 17B, INSURANCE
Chapter 20: Investments of domestic insurers.
Section: 17B:20-5: Securities of foreign country or property therein
Any domestic insurer lawfully doing business, directly or through any subsidiary, in any foreign country other than Canada, may also invest its funds, or permit such subsidiary to invest its funds, to an amount not exceeding 150\% of the reserves and other obligations under outstanding policies of insurance issued or delivered in such foreign country by the insurer or such subsidiary, in securities properties and other investments in such foreign country substantially of the same character as that prescribed for authorized investments for the funds of the insurer under the laws of this State.
L.1971, c. 144, s. 17B:20-5. Amended by L.1973, c. 372, s. 4.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17b:20-5 (if available):
Court decisions that cite this statute:
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