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New Jersey Statutes, Title: 17B, INSURANCE
Chapter 20: Investments of domestic insurers.
Section: 17B:20-6: Reasonable and temporary additional restrictions
Notwithstanding any of the provisions of this chapter, if it shall appear to the commissioner that by reason of investment conditions generally or the financial condition or investment portfolio content of any particular insurer or insurers (giving due regard to policyholders' protection afforded by its capital, surplus and reserves), the safety of the public or policyholders so warrants, he may, upon written notice, impose reasonable and temporary additional restrictions upon the type, class or permissible extent of investments which may be made by any domestic insurer or insurers subject to this chapter. Any insurer or insurers affected shall be entitled, upon application, to a departmental hearing for the purpose of determining whether such restriction should be modified or withdrawn.
L.1971, c. 144, s. 17B:20-6.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17b:20-6 (if available):
Court decisions that cite this statute:
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