N.J. Stat. § 17:16F-17 — NJ Code / Title 17 / Chapter 16F / Section 16F-17
Transfer of mortgage loan to purchasing servicing organization
Status: in_force

3. If the servicing of a mortgage loan for which a mortgage escrow account has been established is sold, assigned or transferred to a purchasing servicing organization: a. (Deleted by amendment, P.L.1997, c.33.) b. The selling servicing organization shall notify the tax collector of the taxing district in which the mortgaged property is located of the sale, assignment or transfer not more than 45 days after the actual date of the sale, assignment or transfer or not less than 10 days before the date the next payment of property taxes is due, whichever is earlier. The notification provided to the tax collector shall be on a form approved by the commissioner. The selling servicing organization shall also forward to the purchasing servicing organization the tax bill and stubs for the property securing the mortgage loan. c. The purchasing servicing organization shall issue corrected coupon or payment books, if such are used, not later than 20 days after the first mortgage escrow payment to the purchasing servicing organization is due. d. The purchasing servicing organization shall notify the tax collector of the taxing district in which the mortgaged property is located of the sale, assignment or transfer of the servicing of the mortgage loan not later than 45 days after the actual date of the sale, assignment or transfer or not less than 10 days prior to the date the next payment of property taxes is due, whichever is earlier. This notice shall include the purchasing servicing organization's procedure for responding to questions regarding a mortgage escrow account it manages. e. A mortgagee or servicing organization which has been authorized to receive the original tax bill from the tax collector of the taxing district in which the mortgagor's property is located pursuant to R.S.54:4-64, may request the tax collector to send the original tax bill to its property tax processing organization. This request shall be made in writing on a form approved by the commissioner. For the purposes of this section, "the date the next payment of property taxes is due" means either the first day of February, May, August or November, as applicable, and shall not include any grace period. For the purposes of this section, the terms, "purchasing servicing organization" and "selling servicing organization" shall not include the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Resolution Trust Corporation, or the Federal Deposit Insurance Corporation, if the assignment, sale, or transfer of the servicing of the mortgage loan is preceded by: (1) Termination of the contract for servicing the loan for cause; (2) Commencement of proceedings for bankruptcy of the servicer; or (3) Commencement of proceedings by the Federal Deposit Insurance Corporation or the Resolution Trust Corporation for conservatorship or receivership of the servicer, or an entity by which the servicer is owned or controlled. L.1990,c.69,s.3; amended 1997, c.33, s.14.
N.J. Stat. § 17:48F-2 — NJ Code / Title 17 / Chapter 48F / Section 48F-2
Prepaid prescription service organization, certificate of authority.
Status: in_force

2. a. Beginning one year after the date of enactment of this act, no person, corporation, partnership, or other entity shall operate a prepaid prescription service organization in this State except in accordance with the provisions of this act. No person shall sell, offer to sell or solicit offers to purchase or receive advance or periodic consideration for prescription services without obtaining a certificate of authority pursuant to this act. b. A prepaid prescription service organization operating in this State on the effective date of this act shall submit an application for a certificate of authority to the commissioner within nine months of the date of enactment of this act. The organization may continue to operate during the pendency of its application, but in no case longer than 18 months after the date of enactment of this act. In the event the application is denied, the applicant shall then be treated as a prepaid prescription service organization whose certificate of authority has been revoked pursuant to section 18 of this act. Nothing in this subsection shall operate to impair any contract which was entered into before the effective date of this act. c. Any person offering prescription services in a manner substantially provided for in this act shall be presumed to be subject to the provisions of the act unless the person is otherwise regulated under State law. L.1997,c.380,s.2.
N.J. Stat. § 17:22E-17 — NJ Code / Title 17 / Chapter 22E / Section 22E-17
Binding authority for retrocessional contracts, reinsurance syndicates
Status: in_force

17. Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated with the reinsurance intermediary-manager. L.1993,c.244,s.17.
N.J. Stat. § 17:10B-1 — NJ Code / Title 17 / Chapter 10B / Section 10B-1
Definitions
Status: in_force

1. As used in this act: "Advance fee" means any consideration which is assessed or collected by a loan broker, prior to the closing of a loan or issuing a credit card or approving a line of credit. "Borrower" means a person obtaining or desiring to obtain a loan of money, credit card or line of credit for personal, family or household use. "Commissioner" means the Commissioner of Banking or his designee. "Department" means the Department of Banking. "Loan broker" means any person who: (1) For or in expectation of consideration, arranges or offers to arrange or offers to fund for a borrower a loan of money, credit card, or line of credit; (2) For or in expectation of consideration, assists or advises or offers to assist or advise a borrower in obtaining or attempting to obtain a loan of money, credit card or line of credit; or (3) Holds himself out as a loan broker. L.1992,c.66,s.1.
N.J. Stat. § 17:9A-180.10 — NJ Code / Title 17 / Chapter 9A / Section 9A-180.10
Legal investments for fiduciaries and others not enlarged
Status: in_force

Nothing in this act shall be construed to enlarge the classes of investments permitted for fiduciaries or any other type of investor whose investments are regulated by statute, by reference in any such statute to investments which are legal for savings banks. L.1953, c. 78, p. 1001, s. 6.
N.J. Stat. § 17:16C-61.1 — NJ Code / Title 17 / Chapter 16C / Section 16C-61.1
Short title
Status: in_force

This act shall be known as, and may be cited as, the "Door-to-Door Retail Installment Sales Act of 1968." L.1968, c. 223, s. 1, eff. July 30, 1968.
N.J. Stat. § 17B:27A-19.21 — NJ Code / Title 17B / Chapter 27A / Section 27A-19.21
Small employer health benefits plan to provide coverage for oral anticancer medications.
Status: in_force

7. a. A small employer health benefits plan that is delivered, issued, executed, or renewed in this State pursuant to P.L.1992, c.162 (C.17B:27A-17 et seq.), on or after the effective date of this act, shall provide coverage for expenses for prescribed, orally administered anticancer medications used to kill or slow the growth of cancerous cells on a basis no less favorable than the plan provides for intravenously administered or injected anticancer medications. b. Pursuant to subsection a. of this section, coverage for expenses for prescribed, orally administered anticancer medications used to kill or slow the growth of cancerous cells shall not be subject to any prior authorization, dollar limit, copayment, deductible or coinsurance provision that does not apply to intravenously administered or injected anticancer medications. c. A small employer health benefits plan shall not achieve compliance with the provisions of this section by imposing an increase in patient cost sharing, including any copayment, deductible or coinsurance, for anticancer medications, whether intravenously administered or injected or orally administered, that are covered under the plan as of the effective date of this act. d. This section shall apply to those health benefits plans in which the carrier has reserved the right to change the premium. L.2011, c.188, s.7.
N.J. Stat. § 17:9A-27.23 — NJ Code / Title 17 / Chapter 9A / Section 9A-27.23
Additional powers
Status: in_force

In addition to the powers conferred by the preceding sections of this act, a bank shall have power to do all, or some, or 1 of the following, whether or not such bank maintains a retirement plan or fund: (1) pay premiums for insurance on the lives or health of its employees, under policies commonly known as group insurance policies; (2) pay premiums on behalf of its employees and their dependents, for hospitalization or hospital service insurance and for surgical and medical service insurance; (3) pay reasonable amounts to aid present or former employees who are disabled by accident, illness or otherwise; (4) pay salaries or wages in whole or in part, to employees who are disabled by accident, illness or otherwise; (5) pay the reasonable cost of educational and recreational facilities for employees, or for the promotion of their health and general welfare. L.1953, c. 124, p. 1319, s. 23. Amended by L.1962, c. 234, s. 7.
N.J. Stat. § 17B:24-6 — NJ Code / Title 17B / Chapter 24 / Section 24-6
Exemption of proceeds--life insurance
Status: in_force

a. If a policy of insurance, whether heretofore or hereafter issued, is affected by any person on his own life, or on another life, in favor of a person other than himself, or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to any such person, then the lawful beneficiary, assignee or payee of such policy, shall be entitled to its proceeds and avails against the creditors and representatives of the insured and of the person effecting the same, whether or not the right to change the beneficiary is reserved or permitted, or the policy is made payable to the person whose life is insured or to the executors or administrators of such person if the beneficiary shall predecease such person. Except however the foregoing shall not be applicable if the lawful beneficiary, assignee or payee of such policy is any of the following: (1) The insured, (2) The person so effecting such insurance, or (3) The executors or administrators of such insured or the person so effecting such insurance. b. Such proceeds and avails shall be exempt from any liability for any debt of the beneficiary existing at the time the proceeds and avails become available for his use; provided that, subject to the statute of limitations, the amount of any premiums for such insurance paid with intent to defraud creditors, with interest thereon, shall inure to their benefit from the proceeds of the policy; but the insurer issuing the policy shall be discharged of all liability thereon by payment of its proceeds in accordance with its terms, unless, before such payment, the insurer shall have received written notice at its home office, by or in behalf of a creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors setting forth such facts as will enable the insurer to ascertain the particular policy. c. For the purposes of subsections a. and b. above, a policy shall also be deemed to be payable to a person other than the insured if and to the extent that a facility-of-payment clause or similar clause in the policy permits the insurer to discharge its obligation after the death of the individual insured by paying the death benefits to a person as permitted by such clause. L.1971, c. 144, s. 17B:24-6.
N.J. Stat. § 17:1C-22 — NJ Code / Title 17 / Chapter 1C / Section 1C-22
Commissioner's findings, notice
Status: in_force

4. If upon receiving the objections, or after the hearing, the commissioner finds any part of the special purpose apportionment against the objecting company excessive, erroneous, unlawful or invalid, he shall transmit to the objector, by registered mail, his findings and an amended statement of special purpose apportionment in accordance with those findings, which shall have the same force and effect as an original statement of special purpose apportionment. If the commissioner finds the entire statement of special purpose apportionment unlawful or invalid, he shall notify the objector, by registered mail, of that determination, and the original statement of special purpose apportionment shall be null and void. If the commissioner finds that the statement as rendered is neither excessive, erroneous, unlawful or invalid, in whole or in part, he shall transmit notice thereof to the objector by registered mail. L.1995,c.156,s.4.
N.J. Stat. § 17:9A-36 — NJ Code / Title 17 / Chapter 9A / Section 9A-36
Definitions
Status: in_force

Definitions. As used in this article, and except as the context otherwise requires, (1) "Common trust fund" means a fund established and maintained by a bank or any of its affiliate banks exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank or any of its affiliate banks in any fiduciary capacity specified in paragraphs (5), (6), (9) and (10) of section 28; (2) "Bank" means a qualified bank which is empowered to invest moneys entrusted to it in any capacity specified in paragraphs (5), (6), (9) and (10) of section 28; (3) "Cofiduciary" means one or more individuals or corporations, or both, lawfully acting or entitled to act jointly with a bank in the exercise of the powers referred to in the next preceding paragraph; (4) "Trust instrument" means the will, deed, agreement, court order or other instrument pursuant to which money or other property is entrusted to a bank as sole fiduciary or jointly with a cofiduciary; (5) "Trust estate" means money or other property entrusted to a bank solely or jointly with a cofiduciary pursuant to a trust instrument; (6) "Participation" means the undivided share in a common trust fund which accrues to a trust estate as the result of a bank's investment of funds of such trust estate in such common trust fund; (7) "Affiliate banks" means banks, including out-of-State banks, at least 90% of whose issued and outstanding stock is owned by the same in-State or out-of-State corporation; (8) "Out-of-State bank" means a corporation organized as a bank under the laws of a state other than New Jersey or a national banking association having its principal office outside of New Jersey. L.1948,c.67,s.36; amended 1951,c.46,s.1; 1962,c.104,s.1; 1975,c.338,s.1; 1985,c.528,s.16; 1990,c.22,s.2.
N.J. Stat. § 17:47A-1 — NJ Code / Title 17 / Chapter 47A / Section 47A-1
Short title
Status: in_force

1. This act shall be known and may be cited as the "New Jersey Risk Retention Act." L.1993,c.240,s.1.
N.J. Stat. § 17:37A-21 — NJ Code / Title 17 / Chapter 37A / Section 37A-21
Net value of fund; determination; amount
Status: in_force

The commissioner, on or before April 1, shall ascertain and determine the net value of the fund as of the next preceding December 31. The net value of the fund shall be determined by deducting from the value of the assets of the fund, the aggregate, actual, and estimated liabilities of the fund as determined by the commissioner. When the net value of the fund, as thus determined, reaches an amount equal to 5% of the premiums written on basic property insurance in this State in the most recent full calendar year, no further surcharge on said premiums and no further payments to said fund shall be made; provided, however, that whenever, thereafter, the net value of said fund shall be reduced below the aforesaid amount, by reason of payments from and known and estimated liabilities of such fund, then such surcharge and payments to said fund shall be received in the manner provided in section 19 of this act, and shall continue in such manner until said fund, over and above its sum and estimated liabilities, shall reach the aforesaid amount. L.1968, c. 129, s. 21, eff. July 1, 1968. Amended by L.1977, c. 185, s. 3, eff. Aug. 22, 1977.
N.J. Stat. § 17:12B-62 — NJ Code / Title 17 / Chapter 12B / Section 12B-62
Directors, number, powers.
Status: in_force

62. Directors, number, powers. The business and affairs of every State association shall be managed and directed by a board of directors. The board shall consist of such number as the bylaws provide, but not less than five. Each director shall be a citizen of the United States and shall be either a member of the mutual association or a stockholder of the capital stock association, as the case may be. He shall have such other qualifications and meet such eligibility requirements, as this act and the bylaws provide. The board may exercise any and all powers of a State association not expressly reserved to the members of the mutual association or the stockholders of the capital stock association by the provisions of this act and the bylaws. All checks, notes and drafts of the State association shall be executed in a manner and form determined by resolution of the board of the State association. If the bylaws so provide, the board may delegate any of its powers to any committee composed of members of the board. L.1963,c.144,s.62; amended 1974, c.137, s.7; 1997, c.303.
N.J. Stat. § 17:9A-70.1 — NJ Code / Title 17 / Chapter 9A / Section 9A-70.1
Definitions
Status: in_force

As used in this act: "Banking institution" means a banking institution as defined in section 1 of P.L.1948, c.67 (C.17:9A-1); "Credit insurance" means credit life insurance and credit health insurance issued pursuant to chapter 29 of Title 17B of the New Jersey Statutes, and credit involuntary unemployment insurance issued in accordance with forms and rates filed with and approved by the Commissioner of Insurance pursuant to applicable regulations. L.1963,c.103,s.1; amended 1991,c.118,s.5.
N.J. Stat. § 17:30D-25 — NJ Code / Title 17 / Chapter 30D / Section 30D-25
Annual review of capitalization, reserve requirements.
Status: in_force

21. Subject to standards adopted by the National Association of Insurance Commissioners, the Commissioner of Banking and Insurance shall, within 180 days after the effective date of P.L.2004, c.17 (C.2A:53A-37 et al.) and annually thereafter, review the current capitalization and reserve requirements applicable to insurers authorized or admitted to transact medical malpractice liability insurance in this State, as those requirements are established by statute or regulation, or both. Based upon the findings of that review, the commissioner shall adopt regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to modify those requirements, as the commissioner determines necessary in order to ensure the solvency of those insurers and the availability and affordability of medical malpractice liability insurance in this State. If the commissioner determines that legislation is necessary to effect any such modification, the commissioner shall notify the Governor and the Legislature within the 180-day period provided in this section. L.2004,c.17,s.21.
N.J. Stat. § 17B:32-40 — NJ Code / Title 17B / Chapter 32 / Section 32-40
Confidentiality of documents, files, records, papers
Status: in_force

10. In all proceedings and judicial reviews thereof under section 9 of this act, all records of the insurer, other documents, and all department files and court records and papers, so far as they pertain to or are a part of the record of the proceedings, shall be and remain confidential except as is necessary to obtain compliance therewith, unless and until the Superior Court, after hearing arguments from the parties in chambers, shall order otherwise; or unless the insurer requests that the matter be made public. Until such court order, all papers filed with the clerk of the Superior Court shall be held by him in a confidential file. L.1992,c.65,s.10.
N.J. Stat. § 17B:27-46.1rr — NJ Code / Title 17B / Chapter 27 / Section 27-46.1rr
Group health insurance policy to provide coverage for standard fertility preservation services.
Status: in_force

4. a. A group health insurance policy which provides hospital or medical expense benefits for groups with more than 50 persons and is delivered, issued, executed or renewed in this State, or approved for issuance or renewal in this State by the Commissioner of Banking and Insurance, on or after the effective date of this act, shall provide coverage for standard fertility preservation services when a medically necessary treatment may directly or indirectly cause iatrogenic infertility. For the purposes of this section: "Iatrogenic infertility" means an impairment of fertility caused by surgery, radiation, chemotherapy, or other medical treatment affecting reproductive organs or processes. "May directly or indirectly cause" means a medical treatment with a likely side effect of iatrogenic infertility as established by the American Society for Reproductive Medicine, the American Society of Clinical Oncology, or as defined by the New Jersey Department of Health. "Standard fertility preservation services" means procedures consistent with established medical practices and professional guidelines published by the American Society for Reproductive Medicine, the American Society of Clinical Oncology, or as defined by the New Jersey Department of Health. "Standard fertility preservation services" shall not include the storage of sperm or oocytes. The benefits shall be provided to the same extent as for any other medical condition under the policy. The same copayments, deductibles, and benefit limits shall apply to the provision of standard fertility preservation services pursuant to this section as those applied to other medical or surgical benefits under the policy. b. An insurer providing coverage under this section shall not determine the provision of standard fertility preservation services based on an insured's expected length of life, present or predicted disability, degree of medical dependency, perceived quality of life, or other health conditions, or based on personal characteristics, including age, sex, sexual orientation, marital status, or gender identity. c. This section shall apply to those group health insurance policies in which the insurer has reserved the right to change the premium. L.2019, c.306, s.4.
N.J. Stat. § 17:9A-197.1 — NJ Code / Title 17 / Chapter 9A / Section 9A-197.1
Savings bank official immunity
Status: in_force

Notwithstanding the provisions of section 197 of P.L. 1948, c. 67 (C. 17:9A-197), a savings bank may, by amending its certificate of incorporation in the manner provided in section 198 of P.L. 1948, c. 67 (C. 17:9A-198), provide that a manager or officer shall not be personally liable, or shall be liable only to the extent therein provided, to the savings bank or its depositors for damages for breach of any duty owed to the savings bank or its depositors, except that such provision shall not relieve a manager or officer from liability for an act or omission (a) in breach of such person's duty of loyalty to the savings bank or its depositors, (b) not in good faith or involving a knowing violation of law or (c) resulting in receipt by such person of an improper personal benefit. As used in this section, an act or omission in breach of a person's duty of loyalty means an act or omission which that person knows or believes to be contrary to the best interests of the savings bank or its depositors in connection with a matter in which he has a material conflict of interest. The Commissioner of Banking shall approve such amendment unless he finds that it unreasonably affects the interests of the depositors. L. 1987, c. 35, s. 11; amended 1989,c.17,s.8.
N.J. Stat. § 17:9A-49 — NJ Code / Title 17 / Chapter 9A / Section 9A-49
Definitions
Status: in_force

For the purposes of this article. "Reserve depositary" includes (a) A Federal Reserve bank, (b) A member of a Federal Reserve bank organized in a Federal Reserve district which includes all or any part of this State, which shall be approved by the commissioner as a reserve depositary, (c) A bank which is not a member of the Federal Reserve System, but which shall be approved by the commissioner as a reserve depositary, and (d) A member of a Federal Reserve bank organized in a Federal reserve district which does not include all or any part of this State; provided, such member is approved by the commissioner as a reserve depositary. L.1948, c. 67, p. 231, s. 49. Amended by L.1951, c. 34, p. 140, s. 1; L.1979, c. 226, s. 7, eff. Oct. 12, 1979; L.1981, c. 373, s. 2, eff. Dec. 30, 1981.
N.J. Stat. § 17:49A-9 — NJ Code / Title 17 / Chapter 49A / Section 49A-9
Insurance coverage
Status: in_force

Upon the approval of its bylaws and plan of risk management pursuant to the provisions of section 8 of this act, a joint insurance fund may provide insurance coverage to its participants by self-insurance, the purchase of commercial insurance or reinsurance, or any combination thereof. L. 1987, c. 431, s. 9.
N.J. Stat. § 17:35-10 — NJ Code / Title 17 / Chapter 35 / Section 35-10
Fixing fee, rates, etc.; evidence of notices
Status: in_force

The directors or trustees, or the persons designated in the bylaws of any corporation subject to the provisions of this article shall fix the fee rates and amounts of premiums, assessments or periodical calls, the time and manner of their payment, and the risks to be assumed by the corporation and their duration, and may change the same as the experience of the corporation requires. An affidavit made by the person having charge of the mailing of notices of premiums, assessments or periodical calls, that the notice was mailed, stating the date of mailing, shall be prima facie evidence thereof.
N.J. Stat. § 17:46B-15 — NJ Code / Title 17 / Chapter 46B / Section 46B-15
Amount of statutory premium reserve; release thereof
Status: in_force

a. The statutory premium reserve of every domestic title insurance company shall consist of: (1) The amount of the reserve held as of the effective date of this act, pursuant to or under permission granted by P.L.1938, c. 289, s. 6, as amended by P.L.1949, c. 180, s. 1 (C. 17:18-13); and (2) The amount of all additions required to be made to such reserve by this section, less the withdrawals therefrom as required by this section. b. After the effective date of this act, every domestic title insurance company shall add to its statutory premium reserve, in respect to each policy or reinsurance agreement issued by it, a sum of money out of the fees due or received for such title insurance made by it and deemed to be unearned portions of such fees, a sum equal to $1.50 for each such policy or contract or agreement, plus $0.12 1/2 for each $1,000.00 face amount of net retained liability, as defined in subparagraph k. of section 1, of this act, and shall separately record the aggregate amounts so set aside and reserved in respect to such policies, contracts or agreements written in each calendar year. c. No such reserves shall be required for a policy or contract that insures a mortgage interest which is excepted in a simultaneously issued owner's policy or contract covering the same estate in land and which does not exceed the insured amount of such owner's policy or contract. d. The amounts set aside initially to establish the statutory premium reserve as referred to in subparagraph a. (1) of section 15 of this act, and additions to the statutory reserve as referred to in paragraph b. of section 15 of this act shall be deducted in determining net profits of any title insurance company. e. For the purpose of determining the amounts of the statutory premium reserve that shall be withdrawn pursuant to paragraph f. of this section, and the interest of the policyholders therein under section 17 of this act, all policies, contracts of title insurance or reinsurance agreements of title insurance shall be considered as dated on July 1 of the year of issue. f. The aggregate of the amounts set aside in statutory premium reserve in any calendar year pursuant to subparagraph b. of this section shall be released from said reserve and restored to net income in years of release pursuant to the following formula: one-twentieth of such aggregate sum on July 1 of each of the years next succeeding the year of addition to the reserve for a period of 20 years until the entire sum shall have been so released and restored to net profits. The reserve held at the effective date of this act referred to in subsection a. (1) of this section shall also be released according to the foregoing formula. g. If substantially the entire outstanding liability under all policies, contracts of title insurance or reinsurance agreements of any title insurance company shall be reinsured, the value of the consideration received by a reinsuring title insurance company authorized to transact the business of title insurance in this State, shall constitute, in its entirety, unearned portions of original premiums and be added to its statutory reserve and deemed, for recovery purposes, to have been provided for liabilities assumed during the year of such reinsurance. The amount of such addition to the statutory premium reserve of such assuming title insurance company shall be equal to the statutory premium reserve required to be maintained by the ceding title insurance company at the time of such reinsurance. L.1975, c. 106, s. 15, eff. May 29, 1975.
N.J. Stat. § 17:23-42 — NJ Code / Title 17 / Chapter 23 / Section 23-42
Corporate governance annual disclosure.
Status: in_force

5. a. An insurer, or the insurance group of which the insurer is a member, shall, no later than June 1 of each calendar year, submit to the commissioner a corporate governance annual disclosure that contains the information described in subsection b. of section 6 of this act. Notwithstanding any request from the commissioner made pursuant to subsection c. of this section, if the insurer is a member of an insurance group, the insurer shall submit the report required by this section to the commissioner of the lead state, or group-wide supervisor as defined by section 8 of P.L.2014, c.81 (C.17:27A-5.2), if applicable, for the insurance group, in accordance with the laws of that state, as determined by the procedures outlined in the most recent Financial Analysis Handbook adopted by the NAIC. b. The disclosure shall include a signature of the insurer or insurance group's chief executive officer or corporate secretary attesting to the best of that individual's belief and knowledge that the insurer has implemented the corporate governance practices and that a copy of the disclosure has been provided to the insurer's board of directors or the appropriate committee thereof. c. An insurer not required to submit a disclosure under this section shall do so upon the commissioner's request. d. For purposes of completing the disclosure, the insurer or insurance group may provide information regarding corporate governance at the ultimate controlling parent level, an intermediate holding company level, or the individual legal entity level, depending upon how the insurer or insurance group has structured its system of corporate governance. The insurer or insurance group is encouraged to make the disclosures at the level at which the insurer's or insurance group's risk appetite is determined, or at which the earnings, capital, liquidity, operations, and reputation of the insurer are overseen collectively and at which the supervision of those factors are coordinated and exercised, or the level at which legal liability for failure of general corporate governance duties would be placed. If the insurer or insurance group determines the level of reporting based on these criteria, it shall indicate which of the three criteria was used to determine the level of reporting and explain any subsequent changes in level of reporting. e. The review of the disclosure and any additional requests for information shall be made through the lead state, or group-wide supervisor as defined by section 8 of P.L.2014, c.81 (C.17:27A-5.2), if applicable, as determined by the procedures within the most recent Financial Analysis Handbook adopted by the NAIC. f. Insurers providing information substantially similar to the information required by this act in other documents provided to the commissioner, including proxy statements filed in conjunction with registration statements filed pursuant to section 3 of P.L.1970, c.22 (C.17:27A-3), known as "Form B filings," or other state or federal filings provided to this department shall not be required to duplicate that information in the disclosure, but shall only be required to cross reference the document in which the information is included. L.2019, c.350, s.5.
N.J. Stat. § 17:48-6uu — NJ Code / Title 17 / Chapter 48 / Section 48-6uu
Hospital service corporation to provide certain coverage for prescription drugs.
Status: in_force

1. a. Notwithstanding any other provision of law to the contrary, a hospital service corporation that offers a contract that provides benefits for expenses incurred in the purchase of prescription drugs and is delivered, issued, executed, or renewed in this State, shall ensure that at least 25 percent of all plans, or at least one plan if the corporation offers less than four plans, offered by the corporation in each rating area and in each of the bronze, silver, gold, and platinum levels of coverage, in the individual market pursuant to P.L.1992, c.161 (C.17B:27A-2 et seq.), and in the small employer market pursuant to P.L.1992, c.162 (C.17B:27A-17), shall conform with the following: (1) (a) a contract that provides a silver, gold, or platinum level of coverage, as defined in 45 C.F.R. s.156.140, shall limit a covered person's cost-sharing, including any copayment or coinsurance, for prescription drugs, including specialty drugs, to no more than $150 per month for each prescription drug for up to a 30-day supply of any single drug; (b) a contract that provides a bronze level of coverage, as defined in 45 C.F.R. s.156.140, shall ensure that any required covered person's cost-sharing, including any copayment or coinsurance, does not exceed $250 per month for each prescription drug for up to a 30-day supply of any single drug; (c) a contract that meets the requirements of a catastrophic plan, as defined in 45 C.F.R. s.156.155, shall be exempt from the requirements of subparagraphs (a) and (b) of this paragraph; (2) except as provided in paragraph (3) of this subsection, the limits described in paragraph (1) of this subsection shall apply at any point in the benefit design, including before and after any applicable deductible is reached; and (3) for prescription drug benefits offered in conjunction with a high-deductible health plan, the contract shall not provide prescription drug benefits until the expenditures applicable to the deductible under the plan have met the amount of the minimum annual deductibles in effect for self-only and family coverage under section 223(c)(2)(A)(i) of the federal Internal Revenue Code (26 U.S.C. s.223(c)(2)(A)(i)) for self-only and family coverage, respectively. Once the foregoing expenditure amount has been met under the plan, coverage for prescription drug benefits shall begin, and the limit on out-of-pocket expenditures for prescription drug benefits shall be as specified in paragraph (1) of this subsection. b. The provisions of this section shall apply to all contracts in which the hospital service corporation has reserved the right to change the premium. L.2019, c.472, s.1.
N.J. Stat. § 17:9A-43 — NJ Code / Title 17 / Chapter 9A / Section 9A-43
Powers of commissioner
Status: in_force

The commissioner shall have power, from time to time, to make, amend, supplement, and repeal such rules and regulations, not inconsistent with the provisions of this article, governing common trust funds as he shall deem necessary to enable banks to establish and maintain common trust funds on an equal basis with common trust funds established and maintained by national banking associations. L.1948, c. 67, p. 229, s. 43.
N.J. Stat. § 17:35-2 — NJ Code / Title 17 / Chapter 35 / Section 35-2
Incorporation
Status: in_force

Nine or more persons may form a corporation for the purpose of transacting the business of life insurance upon the assessment plan, by filing in the department a declaration in writing signed and duly acknowledged by each of them, stating: a. Their intention to form a corporation for the transaction of life insurance upon the assessment plan; b. The name of the proposed corporation, which shall not be one in use by another corporation of the state or so nearly similar thereto as to lead to uncertainty or confusion; c. The location of its principal office in this state; and d. The mode in which its corporate powers are to be exercised and of electing directors or trustees. The declaration shall have indorsed thereon or annexed thereto, and as a part thereof, the sworn statement of three of such persons that at least three hundred persons eligible under the proposed laws of the corporation to membership therein have in good faith made application in writing for membership. The declaration, with a certificate of the attorney general that it is in accordance with this article and not inconsistent with the constitution and laws of this state, shall thereupon be filed by the commissioner, who shall deliver to the corporation a certified copy of the papers so filed. This certified copy shall be filed in the office of the clerk of the county wherein the office of the corporation is to be located, whereupon it shall be deemed to be incorporated under this article. The corporation shall pay for filing the declaration provided for herein the sum of twenty dollars.
N.J. Stat. § 17:16J-4 — NJ Code / Title 17 / Chapter 16J / Section 16J-4
Priority; supervisory acquisition or merger
Status: in_force

a. The commissioner shall give priority to a proposal for supervisory acquisition of a depository over a proposal for supervisory merger, if the acquisition would be deemed by him to be feasible and to result in the successful operation of the acquired depository. b. The commissioner shall give priority to supervisory acquisitions by or supervisory mergers with like institutions, without regard as to whether the like institutions are stock or mutual, if the acquisition or merger is deemed by him to be feasible and to result in the successful operation of the acquired or resulting depository. c. In the case of a supervisory merger or supervisory acquisition involving two or more depositories, the commissioner shall take into account the relative sizes of the depositories involved. L.1982, c. 8, s. 4, eff. March 4, 1982.
N.J. Stat. § 17B:26-28 — NJ Code / Title 17B / Chapter 26 / Section 26-28
Inapplicable or inconsistent provisions
Status: in_force

If any provision of sections 17B:26-3 to 17B:26-31, inclusive, is in whole or in part inapplicable to or inconsistent with the coverage provided by a particular form of policy the insurer, with the approval of the commissioner, shall omit from such policy any inapplicable provision or part of a provision, and shall modify any inconsistent provision or part of the provision in such manner as to make the provision as contained in the policy consistent with the coverage provided by the policy. L.1971, c. 144, s. 17B:26-28.
N.J. Stat. § 17:16F-27 — NJ Code / Title 17 / Chapter 16F / Section 16F-27
Short title.
Status: in_force

1. This act shall be known and may be cited as the "Mortgage Servicers Licensing Act." L.2019, c.65, s.1.
N.J. Stat. § 17:16X-8 — NJ Code / Title 17 / Chapter 16X / Section 16X-8
Dissention from the merger
Status: in_force

8. Any holder of an interest in a subsidiary to be merged, including a shareholder, partner or member, shall have the right to dissent from the merger as set forth in this section. a. A holder of an interest may not dissent as to less than all of the holder's interest owned beneficially by the holder. A nominee or fiduciary may not dissent on behalf of any beneficial owner as to less than all of the interest of each such owner with respect to which the right of dissent exists. b. If a subsidiary party to a plan of merger is a corporation subject to the provisions of N.J.S.14A:1-1 et seq., except as now or hereafter may be provided therein, the shareholder of the subsidiary shall have the rights of a dissenting shareholder, including the right to accept a fair value for the stock all as set forth in N.J.S.14A:11-1 et seq., and the procedure to obtain fair value as set forth therein shall be followed. Holders of interests in other entities which are subsidiaries shall have the same dissenter's rights, if any, as provided in the statutes governing those entities. If the applicable statutes do not provide a right to dissent and obtain fair value, nothing in this act shall be deemed to provide such a remedy. L.2000,c.70,s.8.
N.J. Stat. § 17:16D-7 — NJ Code / Title 17 / Chapter 16D / Section 16D-7
Books and records; annual report; violations, penalties.
Status: in_force

7. Every licensee shall maintain records of its premium finance transactions which will enable the commissioner to enforce full compliance with this act and the said records shall be open to examination and investigation by the commissioner. The commissioner shall have the power to make such examination of the books, records and accounts of any licensee as he shall deem necessary. The expenses incurred in making any such examination shall be assessed against and paid by the licensee so examined. The commissioner may, at any time, require any licensee to bring such records as he may direct to the commissioner's office for examination. Every licensee shall preserve its records of such premium finance transactions, including cards used in a card system for at least 3 years after making final entry in respect to any premium finance agreement. The preservation of records in photographic form shall constitute compliance with this requirement. Each licensee shall file a report with the commissioner giving such information in the form and within the time as the commissioner may require by regulation concerning the licensee's business and operation during the preceding calendar year. A licensee that fails to make and file its annual report in the form and within the time provided in this section shall be subject to a penalty of not more than $100 for each day's failure, and the commissioner may revoke or suspend its authority to do business in this State. The penalty may be collected in a summary proceeding pursuant to the "Penalty Enforcement Law of 1999," P.L.1999, c.274 (C.2A:58-10 et seq.). A warrant may issue in lieu of a summons. L.1968,c.221,s.7; amended 2007, c.81, s.24.
N.J. Stat. § 17:46B-52 — NJ Code / Title 17 / Chapter 46B / Section 46B-52
Hearing procedure
Status: in_force

a. Any title insurance company, title insurance rating organization or person aggrieved by any action of the commissioner, or by any rule or regulation adopted and promulgated by the commissioner, shall have the right to file a complaint with the commissioner and to have a hearing thereon before the commissioner. Pending such hearing and the decision thereon, the commissioner may suspend or postpone the effective date of such action, rule or regulation. b. All hearings provided for in this act shall be conducted, and the decision of the commissioner on the issue or filing involved shall be rendered, in accordance with the provisions of P.L.1958, c. 68 (C. 17:1-8.5 et seq.). L.1975, c. 106, s. 51, eff. May 29, 1975.
N.J. Stat. § 17:12B-19 — NJ Code / Title 17 / Chapter 12B / Section 12B-19
Hearing
Status: in_force

At such hearing or at any adjournment thereof which may be granted by the commissioner, there shall be afforded an opportunity to be heard to anyone desiring it. The commissioner shall also make such independent examination or investigation of such application as the circumstances shall require. L.1963, c. 144, s. 19.
N.J. Stat. § 17:13-77 — NJ Code / Title 17 / Chapter 13 / Section 13-77
Charter; necessity of insurance
Status: in_force

No credit union shall be granted a charter by the commissioner on or after the effective date of this act, unless the credit union has obtained a commitment for insurance of its member shares and deposit accounts. L.1982, c. 86, s. 3, eff. July 23, 1982.
N.J. Stat. § 17:1-2 — NJ Code / Title 17 / Chapter 1 / Section 1-2
Commissioner of Banking and Insurance, appointment, salary; interests prohibited to commissioner, officers, employees
Status: in_force

17:1-2. a. The head of the reconstituted department, to be denominated the Commissioner of Banking and Insurance and hereinafter in Title 17 of the Revised Statutes and Title 17B of the New Jersey Statutes, designated the "commissioner," shall be appointed by the Governor, with the advice and consent of the Senate, and shall serve at the pleasure of the Governor during the Governor's term of office and until the appointment and qualification of the commissioner's successor. The person in office as the Commissioner of Insurance on June 30, 1996, shall at the pleasure of the Governor hold the office of Commissioner of Banking and Insurance reestablished by this 1996 amendatory and supplementary act for the unexpired term for which the commissioner was appointed, and until a successor is appointed and qualified. No person shall be appointed commissioner who is in any way connected with the management or control of any corporation, firm, association, institution, or licensee affected by Title 17 of the Revised Statutes or Title 17B of the New Jersey Statutes, and the commissioner shall immediately be dismissed from office if at any time the commissioner becomes so interested. The commissioner shall receive such salary as shall be provided by law. The commissioner shall devote full time to the performance of the duties of commissioner. b. Neither the commissioner nor any officer or employee of the department shall have any ownership of, interest in, or any dealings or transactions in any capacity with any financial institution, insurance company or other entity chartered, licensed or regulated by the department, except in the strict performance of the commissioner's, officer's or employee's duties. This prohibition shall not preclude the commissioner, or officers or employees of the department from continuing routine banking services with financial institutions, including but not limited to, mortgages, checking and savings accounts, and personal loans, entered into prior to their employment, or from establishing banking accounts and from obtaining loans and other services normally obtained by members of the general public, or from obtaining insurance or making claims involving their person, property or affairs, under the same terms and conditions as are available to members of the general public. This prohibition shall not apply to investments in mutual funds, deferred compensation plans, blind trusts, or similar investments, in which the commissioner, officer or employee does not make or influence the selection of individual investments. No department examiner shall examine any entity with which the examiner conducts personal or family banking or insurance activities. Any violation of this section shall be cause for dismissal of the violator by the appointing authority. Amended 1942, c.195, s.1; 1945, c.87; 1948, c.88, s.2; 1996, c.45, s.3.
N.J. Stat. § 17:22-6.70a — NJ Code / Title 17 / Chapter 22 / Section 22-6.70a
Findings, declarations relative to surplus lines insurance.
Status: in_force

1. The Legislature finds and declares: a. The "New Jersey Surplus Lines Insurance Guaranty Fund Act," P.L.1984, c.101 (C.17:22-6.70 et seq.), enacted 18 years ago in the face of an imminent threat of declaration of insolvency of Ambassador Insurance Company of Vermont, has provided valuable benefits by covering claims of certain claimants against insolvent property and casualty insurers selling insurance in New Jersey as surplus lines. b. That act was amended 15 years ago to include, as covered claims, those claims arising from the declared insolvency of Northeastern Fire Insurance Company of Pennsylvania. c. Claims covered by the New Jersey Surplus Lines Insurance Guaranty Fund included claims by New Jersey residents or claims arising from property permanently located in New Jersey, in an amount up to the lesser of the policy limit or $300,000, subject to policy deductibles, thereby redistributing some of the economic burden of surplus lines insurer failures. d. The New Jersey Surplus Lines Insurance Guaranty Fund currently contains a balance of approximately $80,000,000 and $40,000,000 is sufficient to satisfy existing covered claims. e. The Legislature believes that, beyond the payment of existing covered claims, it is good public policy to maintain surplus lines insurance guaranty benefits for certain lines of insurance in the future. L.2002,c.30,s.1.
N.J. Stat. § 17:14A-57 — NJ Code / Title 17 / Chapter 14A / Section 14A-57
Control of safe deposit company; investigation by commissioner
Status: in_force

After the filing of the application as provided in R.S. 17:14A-56, the commissioner shall conduct an investigation to determine whether: a. The acquisition of control of the safe deposit company is not contrary to law; b. The acquisition of control of the safe deposit company is in the best interest of the public; c. The character, responsibility and general fitness of the person or company seeking to acquire control of the safe deposit company are such as to command confidence and warrant belief that the business of the safe deposit company will be honestly and efficiently conducted in a manner consistent with the public interest, the interests of lessees and creditors of the safe deposit company; and d. The exercise of control of the safe deposit company may impair the safe and sound conduct of the business of the safe deposit company, the conservation of its assets or public confidence in its business. L.1983, c. 566, s. 17:14A-57.
N.J. Stat. § 17:24-32 — NJ Code / Title 17 / Chapter 24 / Section 24-32
Requirements of manager of investment pool.
Status: in_force

5. For an investment in an investment pool to be qualified under this act, the manager of the investment pool shall: a. Be organized under the laws of the United States or a state and designated as the pool manager in a pooling agreement; b. Be the insurer, an affiliated insurer or a business entity affiliated with the insurer, a qualified bank, a business entity registered under the federal "Investment Advisors Act of 1940," 15 U.S.C.s.80A-1 et seq., or, in the case of a reciprocal insurer or interinsurance exchange, its attorney-in-fact, or in the case of a United States branch of an alien insurer, its United States manager or affiliated or subsidiaries of its United States manager; c. Compile and maintain detailed accounting records setting forth: (1) The cash receipts and disbursements reflecting each participant's proportionate investment in the investment pool; (2) A complete description of all underlying assets of the investment pool (including amount, interest rate, maturity date (if any) and other appropriate designations); and (3) Other records which, on a daily basis, allow third parties to verify each participant's investment in the investment pool; and d. Maintain the assets of the investment pool in one or more accounts, in the name of or on behalf of the investment pool, under a custody agreement with a qualified bank. The custody agreement shall: (1) State and recognize the claims and rights of each participant; (2) Acknowledge that the underlying assets of the investment pool are held solely for the benefit of each participant in proportion to the aggregate amount of its investments in the investment pool; (3) Contain an agreement that the underlying assets of the investment pool shall not be commingled with the general assets of the custodian qualified bank or any other person ; and (4) Conform with guidelines established by the National Association of Insurance Commissioners and regulations governing custodial or safeguard agreements promulgated by the commissioner. L.1999,c.20,s.5.