N.J. Stat. § 17:9A-55 — NJ Code / Title 17 / Chapter 9A / Section 9A-55
Permissible provisions and actions
Status: in_force

A. A bank which makes an installment loan may (1) require one or more comakers or endorsers of the note evidencing the loan, or one or more guarantors of payment of the loan, and, prior to default, take as security for any such loan an interest in either tangible personal property or real property. After default, an interest in personal property, tangible and intangible, and in real property may be taken as security for a Class I installment and a Class II loan. An interest in real property taken as security for an installment loan shall not be deemed a mortgage loan within the meaning of section 181 or article 14; (2) when the payment of such loan is secured, require that any property constituting such security be insured for the benefit of the bank, against such loss or damage as the bank may require, and may retain out of the proceeds of such loan the premium for such insurance. The bank may further require that all taxes, assessments, water rents and other governmental charges against such property be paid when due and that the security be maintained free of all executions, levies, encumbrances and other charges which adversely affect the value of the bank's interest in such security. If such insurance expires, lapses, or is canceled, and other insurance by insurers and in amounts satisfactory to the bank is not furnished to the bank without lapse of coverage, or if such taxes, assessments, water rents or other governmental charges are not paid when due, or if any execution, levy, encumbrance or other charge which adversely affects the value of the bank's interest in such security is not paid or otherwise removed, the bank may, but shall be under no duty to, obtain such insurance upon such property, or pay the amount of any such tax, assessment, water rent or other governmental charge or pay the amount of such execution, levy, encumbrance or other charge. The amount paid by the bank for such insurance, less the amount of the return premium, if any, received by the bank on cancellation of prior insurance paid for by the borrower or the cost of which was retained out of the proceeds of the loan, together with the amount, if any, paid by the bank for such tax, assessment, water rent or other governmental charge, shall be added to and become part of such loan, payable upon demand with interest at the rate charged on the loan so secured; and, in default of such payment within 30 days after such demand, the entire unpaid balance of the loan shall, at the election of the bank, become immediately due and payable; (3) upon institution of a suit for the collection of an installment loan in default, charge a collection fee, in addition to court costs allowable by law, equal to 10% of the unpaid balance of the loan, but not more than $100.00; (4) when the payment of such loan is secured, and provision is made by law for the filing or recording of the instrument of security or notice or abstract thereof, require compliance with such provision and retain the cost of such recording or filing out of the proceeds of the loan; (5) In connection with a precomputed installment loan, defer the scheduled due date or dates of any installment payment or payments, and, as a consideration therefor make an additional charge at a rate not exceeding 1% per month computed on the amount of the scheduled installment payment or payments deferred for the period or periods for which each such installment payment or part thereof is so deferred. B. A note evidencing an installment loan, or an instrument providing for the securing of an installment loan, may provide that (1) upon default in the payment of an installment on its due date, or upon default in any other term or provision contained in any note evidencing an installment loan, or in any security agreement given in connection with any installment loan, the entire unpaid balance of such loan shall, at the election of the bank, become immediately due and payable; (2) when the maturity of the unpaid balance of an installment loan is accelerated as provided by this section, the bank may charge interest upon such unpaid balance from the date such acceleration takes place at a rate not exceeding the rate charged on the loan; (3) on any installment of a precomputed installment loan in arrears for more than 15 days, the bank may make a late charge which shall not exceed 5% of such installment, or $5.00, whichever is the lesser; provided, that only one such late charge shall be made on any one installment, and that no such late charge shall be made upon any installment scheduled, by the terms of such note or instrument, to fall due upon a date subsequent to the date upon which the maturity of the unpaid balance of the loan is accelerated as provided by this section; (4) no person who is a party to the note evidencing the loan or to any instrument securing such loan shall be released or discharged from liability to the bank by reason of the bank's extending the time for the payment of an installment or installments owing or due upon such loan, or by reason of the bank's waiver of any term or condition of such note or of the instrument securing the payment thereof; (5) all parties to the note evidencing the loan shall waive presentation for payment, demand for payment, protest and notice of protest, nonpayment, dishonor, and the bank's election to accelerate the maturity of the unpaid balance of the loan. C. (Deleted by amendment.) L.1948, c. 67, p. 236, s. 55. Amended by L.1950, c. 311, p. 1056, s. 3; L.1953, c. 237, p. 1718, s. 1; L.1955, c. 129, p. 612, s. 1; L.1965, c. 171, s. 9; L.1976, c. 128, s. 3, eff. Dec. 21, 1976.
N.J. Stat. § 17B:27A-9 — NJ Code / Title 17B / Chapter 27A / Section 27A-9
Determination of rates.
Status: in_force

8. a. (Deleted by amendment, P.L.2008, c.38). b. The board shall make application on behalf of all carriers for any other subsidies, discounts, or funds that may be provided for under State or federal law or regulation. A carrier may include subsidies or funds granted to the board to reduce its premium rates for individual health benefits plans subject to P.L.1992, c.161 (C.17B:27A-2 et al.). c. A carrier shall not issue individual health benefits plans on a new contract or policy form pursuant to P.L.1992, c.161 (C.17B:27A-2 et al.) until an informational filing of a full schedule of rates which applies to the contract or policy form has been filed with the commissioner. The commissioner shall provide a copy of the informational filing to the Attorney General and the board. d. A carrier desiring to increase or decrease premiums for any contract or policy form may implement that increase or decrease upon making an informational filing with the commissioner of that increase or decrease, along with the actuarial assumptions and methods used by the carrier in establishing that increase or decrease. The commissioner may disapprove any informational filing on a finding that it is incomplete and not in substantial compliance with P.L.1992, c.161 (C.17B:27A-2 et al.), or that the rates are inadequate or unfairly discriminatory. e. (1) Rates shall be formulated on contracts or policies required pursuant to section 3 of P.L.1992, c.161 (C.17B:27A-4) so that the anticipated minimum loss ratio for a contract or policy form shall not be less than 80% of the premium calculated based on a three-year rolling average. The carrier shall submit with its rate filing supporting data, as determined by the commissioner, and a certification by a member of the American Academy of Actuaries, or other individuals in a format acceptable to the commissioner, that the carrier is in compliance with the provisions of this subsection. (2) Each calendar year, a carrier shall return, in the form of aggregate benefits for all of the policy or contract forms offered by the carrier pursuant to subsection a. of section 3 of P.L.1992, c.161 (C.17:B:27A-4), at least 80% of the aggregate premiums collected for all of the policy or contract forms during that calendar year. Carriers shall annually report, no later than August 1 of each year, the loss ratio calculated pursuant to this section for all of the policy or contract forms for the previous calendar year. The loss ratio for the previous year shall be calculated based on a three-year rolling average. In each case in which the loss ratio fails to comply with the 80% loss ratio requirement, the carrier shall issue a dividend or credit against future premiums for all policy or contract holders, as applicable, in an amount sufficient to assure that the aggregate benefits paid in the previous calendar year plus the amount of the dividends and credits, calculated based on a three-year rolling average, equal 80% of the aggregate premiums collected for the policy or contract forms in the previous calendar year calculated based on a three-year rolling average. All dividends and credits shall be distributed by December 31 of the year following the calendar year in which the loss ratio requirements were not satisfied. The annual report required by this subsection shall include a carrier's calculation of the dividends and credits applicable to all policy or contract forms, as well as an explanation of the carrier's plan to issue dividends or credits. The instructions and format for calculating and reporting loss ratios and issuing dividends or credits shall be specified by the commissioner by regulation. Those regulations shall include provisions: (a) for the distribution of a dividend or credit in the event of cancellation or termination by a policyholder; and (b) requiring a carrier's minimum loss ratio to be calculated by aggregating the data for a three-year period which includes the data for the previous calendar year whose minimum loss ratio is being calculated, including three months of runout through the first quarter of the subsequent year; and the data for the two years immediately preceding the year for which the minimum loss ratio is being calculated. f. (Deleted by amendment, P.L.2008, c.38). L.1992, c.161, s.8; amended 1994, c.58, s.45; 1994, c.102, s.2; 2008, c.38, s.16; 2024, c.62, s.1.
N.J. Stat. § 17:46D-3 — NJ Code / Title 17 / Chapter 46D / Section 46D-3
Short title.
Status: in_force

1. This act shall be known and may be cited as the “Pet Insurance Act.” L.2025, c.224, s.1.
N.J. Stat. § 17:48A-7u — NJ Code / Title 17 / Chapter 48A / Section 48A-7u
Medical service corporation to provide coverage for mental health conditions, substance use disorders; collaborative care model.
Status: in_force

2. a. (1) Every individual and group medical service corporation contract that provides hospital or medical expense benefits that is delivered, issued, executed or renewed in this State pursuant to P.L.1940, c.74 (C.17:48A-1 et seq.), 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 mental health conditions and substance use disorders under the same terms and conditions as provided for any other sickness under the contract and shall meet the requirements of the federal Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, 42 U.S.C. s.18031(j), and any amendments to, and federal guidance or regulations issued under that act, including 45 s.C.F.R. Parts 146 and 147 and 45 C.F.R. s.156.115(a)(3). Coverage provided pursuant to this section shall include benefits delivered through the psychiatric Collaborative Care Model. (2) As used in this section: "Mental health condition" means a condition defined to be consistent with generally recognized independent standards of current medical practice referenced in the current version of the Diagnostic and Statistical Manual of Mental Disorders. "Psychiatric Collaborative Care Model" means the evidence-based, integrated behavioral health service delivery method wherein a primary care provider and a care manager collaborate with a psychiatric consultant to provide care to a patient. "Psychiatric Collaborative Care Model" shall include those benefits that are billed using the following list of Current Procedural Terminology (CPT) codes, which list shall be updated by the Commissioner of Banking and Insurance whenever the codes are altered or supplemented: (a) 99492 - Initial psychiatric collaborative care management; (b) 99493 - Subsequent psychiatric collaborative care management; and (c) 99494 - Initial or subsequent psychiatric collaborative care management, additional time. "Same terms and conditions" means that the medical service corporation cannot apply more restrictive non-quantitative limitations, such as utilization review and other criteria or more quantitative limitations such as copayments, deductibles, aggregate or annual limits or benefit limits to mental health condition and substance use disorder benefits than those applied to substantially all other medical or surgical benefits. "Substance use disorder" means a disorder defined to be consistent with generally recognized independent standards of current medical practice referenced in the most current version of the Diagnostic and Statistical Manual of Mental Disorders. b. (Deleted by amendment, P.L.2019, c.58) c. The provisions of this section shall apply to all contracts in which the medical service corporation has reserved the right to change the premium. d. Nothing in this section shall reduce the requirement for a medical service corporation to provide benefits pursuant to section 2 of P.L.2017, c.28 (C.17:48A-7kk). L.1999, c.106, s.2; amended 2019, c.58, s.2; 2022, c.33, s.2.
N.J. Stat. § 17B:18-30 — NJ Code / Title 17B / Chapter 18 / Section 18-30
Proxy voting permitted at elections
Status: in_force

At any election of directors, managers or other officers of a domestic insurer, except any election of directors held pursuant to N.J.S. 17B:18-18 to 17B:18-28, inclusive, every person entitled to vote at the election may vote in person or by attorney or proxy, but no proxy shall be voted, allowed or received after 3 years from its date. L.1971, c. 144, s. 17B:18-30.
N.J. Stat. § 17B:27B-14 — NJ Code / Title 17B / Chapter 27B / Section 27B-14
Suspension, revocation of license, registration.
Status: in_force

14. The commissioner may suspend or revoke a license or registration issued pursuant to this act if he finds that the third party administrator: a. is in an unsound financial condition; b. is using methods or practices in the conduct of its business that render its further transaction of business in this State hazardous or injurious to the benefits payers with which it has contracted or the public; c. has failed to pay any judgment rendered against it in this State within 60 days after the judgment has become final; d. has violated any lawful rule or order of the commissioner or any provision of State law; e. has refused to be examined or produce its accounts, records and files for examination, or if any of its officers has refused to give information with respect to its affairs or has refused to perform any other legal obligation as to an examination, when required by the commissioner; f. has, without just cause, refused or failed to pay proper claims or perform services arising under its contracts; g. at any time fails to meet any qualification for which issuance of the license could have been refused had that failure then existed and been known to the commissioner; h. has been convicted of, or has entered a plea of guilty or nolo contendere to a felony or crime of the first, second or third degree in this State, without regard to whether adjudication was held; i. is under suspension or revocation in another state; or j. has willfully reimbursed enrollees for benefits not eligible under the benefits payer's benefits plan. If the commissioner finds that one or more grounds exist for the suspension or revocation of a certificate of authority issued under this act, the commissioner may, in lieu of suspension or revocation, impose a fine upon the administrator. L.2001,c.267,s.14.
N.J. Stat. § 17:35-3 — NJ Code / Title 17 / Chapter 35 / Section 35-3
Commencing business
Status: in_force

No such corporation shall commence the business of insurance until at least three hundred persons have subscribed in writing to be insured therein in the aggregate amount of at least three hundred thousand dollars, and have each paid in two per cent on the amount of the insurance severally subscribed for in cash, which is deposited in bank to the credit of the mortuary fund, in trust for the beneficiaries, and the commissioner has certified that it has complied with the provisions of this article and is authorized to transact business.
N.J. Stat. § 17:22-6.84 — NJ Code / Title 17 / Chapter 22 / Section 22-6.84
Proceedings involving insolvent insurer stayed; conditions.
Status: in_force

7. All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court in this State shall, subject to full or partial waiver by the fund in specific cases involving covered claims, be stayed for 120 days, and any additional time thereafter as may be determined by the court, from the date of the order of liquidation or any ancillary proceeding initiated in the State, whichever is later, to permit proper defense by the fund of all pending causes of action. Public notice of the stay shall be by publication in three newspapers of general circulation in this State within 10 days of the order of liquidation. With respect to any covered claims arising from a judgment under any decision, verdict or finding based on the default of the insolvent insurer or its failure to defend an insured, the fund either on its own behalf or on behalf of that insured may apply to have such judgment, order, decision, verdict or finding set aside by the court in which such judgment, order, decision, verdict or finding is entered and shall be permitted to defend against such claim on the merits. L.2004,c.165,s.7.
N.J. Stat. § 17:9A-254 — NJ Code / Title 17 / Chapter 9A / Section 9A-254
Report on examination; statement by directors; filing
Status: in_force

A. Within sixty days after the completion of an examination made pursuant to section 253, a report thereof, in such form as the commissioner may prescribe, certified by the person by whom or under whose supervision the examination was made, shall be presented to the directors at a meeting of the board. The board of directors thereupon shall cause a statement to be prepared showing in detail such of the assets of the bank, other than loans, which, in the judgment of the board, have a value less than the value at which they are carried on the books of the bank, and stating the value, in its judgment, of such assets. There shall also be included in the statement a list of those loans which, in the judgment of the board, are (1) worthless, or (2) doubtful, or (3) insufficiently secured. B. Within the same sixty day period specified in subsection A of this section, the directors shall file in the department (1) a copy of the report of the examination, certified as required by said subsection, and (2) a copy of the statement prepared pursuant to said subsection, certified by an officer of the bank. L.1948, c. 67, p. 371, s. 254.
N.J. Stat. § 17:16Z-6 — NJ Code / Title 17 / Chapter 16Z / Section 16Z-6
Selection of bank as depository for public moneys, funds.
Status: in_force

6. a. Notwithstanding the provisions of section 1 of P.L.1956, c.174 (C.52:18-16.1) or any other law to the contrary, the State Treasurer may select a bank in a district as a depository for public moneys or funds that are otherwise in the custody of the State Treasurer. b. Subject to an agreement between the State Treasurer and the bank, funds of the State deposited in the bank may earn a fixed rate of interest which is at or below the bank's posted rate for a mutually agreeable depository product, for a mutually agreeable term. L.2011, c.24, s.6.
N.J. Stat. § 17B:28-6 — NJ Code / Title 17B / Chapter 28 / Section 28-6
Administration
Status: in_force

Any insurer maintaining one or more separate accounts shall submit annually to the commissioner a report of the business of its separate accounts. Such report shall be made either by a separate annual statement for such business or by suitable additions to such insurer's regular annual statement, in either case on a form prescribed by the commissioner, and shall include details as to all of the income, disbursements, assets and liability items associated with the separate accounts. The commissioner shall make a separate valuation of the assets of the separate accounts and a copy of such valuation shall be filed in the commissioner's office as a public document. Such valuation shall be in accordance with section 17B:28-10. The commissioner shall further prescribe by regulation the steps to be taken by the insurer in disposing of those holdings which at any time subsequent to purchase fail to meet the standards and regulations for new investments. L.1971, c. 144, s. 17B:28-6. Amended by L.1977, c. 37, s. 4, eff. March 10, 1977.
N.J. Stat. § 17B:37-9 — NJ Code / Title 17B / Chapter 37 / Section 37-9
Resolution of disputes, issues subject to compact.
Status: in_force

9. The commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to the compact and which may arise between two or more compacting states, or between compacting states and non-compacting states, and the commission shall promulgate an operating procedure providing for resolution of those disputes. L.2010, c.120, s.9.
N.J. Stat. § 17:22B-13.1 — NJ Code / Title 17 / Chapter 22B / Section 22B-13.1
Public adjusters, written contract, right to cancel, terminate, notice.
Status: in_force

2. a. A public adjuster shall not, directly or indirectly, act within this State as a public adjuster without having first entered into a contract, in writing, and executed in duplicate by the public adjuster and the insured. One original contract shall be kept on file by the public adjuster, available at all times for inspection, without notice, by the commissioner, and one original contract shall be given to the insured. A particular form of contract is not required, but the following statements and provisions shall be included in the contract, including a separate notice of right to cancel or terminate as required pursuant to subsection b. of this section: (1) Title of Public Adjuster Contract; (2) The name, business name, license number, telephone number, email address, and physical address of the public adjuster, as well as the same information for the company or firm, if the contract is in the name of a business entity; (3) The name and address of the insured; (4) A description of the loss and its location, if applicable; (5) The name of the insurer and the policy number, if known; (6) The full consideration the public adjuster is to receive for services under the contract; (7) A description of the services to be provided to the insured; (8) Signatures of the public adjuster and the insured; (9) The date and time the contract was signed by the public adjuster and the date and time the contract was signed by the insured; and (10) In addition to the foregoing, the following statements shall be included in the contract: (a) "A public adjuster is hereby retained by the above-named insured to advise and assist in the adjustment of a property damage insurance claim, which services may include evaluation, documentation, presentation, and negotiation of the insurance claim arising from the loss described herein." (b) "Any services provided by the public adjuster shall be accounted for with the specific nature of the work performed supported by a record of that work." (c) "The insured may cancel this contract before midnight of the third business day after signing the contract without further obligation by completing the attached notice of right to cancel. After that time if the contract is terminated by the insured, the insured remains obligated to pay from any insurance proceeds recovered, either prior to or after the date of termination, a fee for the reasonable value of services provided by the public adjuster based upon the nature of services performed supported by a record of that work." b. The following notice of right to cancel or terminate, as applicable, is required with regard to defining the right to cancel or terminate, unless the Commissioner of Banking and Insurance requires additional information by regulation, bulletin, or posting on the department's Internet website, consistent with P.L.2025, c.84 (C.17:22B-13.1 et al.): "NOTICE OF RIGHT TO CANCEL OR TERMINATE Date of Contract: _____ / _____ / ____ Name of Insured/s:________________________________ You may cancel this contract, without further penalty or obligation, prior to midnight of the third business day after the above date. After that time, you may terminate this contract at any time. If you exercise your right to cancel this contract prior to midnight on the third business day, you will remain liable for reasonable expenses and necessary emergency out-of-pocket expenses or services the public adjuster incurred on your behalf that were necessary to protect your investment between signing of the contract and cancellation if the expenses or services were approved by you. If your public adjuster seeks reimbursement from you for such out-of-pocket expenses or services, your public adjuster shall provide you with an itemized statement of those expenses. If you cancel, any money or anything of value given by you to the public adjuster under the contract will be returned within 10 business days following the receipt by the public adjuster of your cancellation notice, and any security interest arising out of the contract will be canceled. If you terminate this contract after midnight on the third business day, you are obligated to pay from any insurance proceeds recovered, either prior to or after the date of termination, a fee for the reasonable value of services provided by the public adjuster based upon the nature of the services performed by the public adjuster supported by a record of that work. If your public adjuster seeks such payment from you for the reasonable value of such services, your public adjuster shall provide you with an itemized statement of those services and the record of such work. To cancel this contract, mail, fax, email, or personally deliver a signed and dated copy of this notice, or any other written notice, indicating your intent to cancel and date of cancellation, to the address of public adjuster shown at the top of the public adjuster contract, no later than midnight of ______ / ______ / ______. To terminate this contract after that time, mail, fax, email, or personally deliver a signed and dated copy of this notice, or any other written notice, indicating your intent to terminate and the date of termination. I HEREBY CANCEL /TERMINATE THIS CONTRACT Insured:__________________________________________ Insured:__________________________________________ Adjuster:_________________________________________ Please Print Name Date: _____ / _____ / _____" c. If a public adjuster is to receive as compensation a percentage of the total amount paid by the insurer to resolve the insured's claim for property damage to the insured's primary or secondary dwelling, the contract between a public adjuster and an insured may not contain a contract term that would: (1) allow the public adjuster to collect the public adjuster's entire compensation from the first payment issued by the insurer if the insurer will pay the total amount to resolve the insured's claim in two or more payments; (2) require the insured to authorize an insurer to issue a check only in the name of the public adjuster; and (3) preclude the public adjuster or the insured from pursuing civil remedies. L.2025, c.84, s.2.
N.J. Stat. § 17:47B-12 — NJ Code / Title 17 / Chapter 47B / Section 47B-12
Taxes paid by captive insurance company.
Status: in_force

12. a. Each captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) shall pay to the Director of the Division of Taxation in the Department of the Treasury, on or before March 1 of each year, a tax at the rate of .38 of one percent on the first $20,000,000 and .285 of one percent on the next $20,000,000 and .19 of one percent on the next $20,000,000 and .072 of one percent on each dollar thereafter on the direct premiums collected or contracted for on policies or contracts of insurance written by the captive insurance company during the year ending December 31 next preceding, after deducting from the direct premiums subject to the tax the amounts paid to policyholders as return premiums, which shall include dividends on unabsorbed premiums or premium deposits returned or credited to policyholders; except that no tax shall be due or payable as to considerations received for annuity contracts. b. Each captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) shall pay to the Director of the Division of Taxation in the Department of the Treasury, on or before March 1 of each year, a tax at the rate of .214 of one percent on the first $20,000,000 of assumed reinsurance premium, and .143 of one percent on the next $20,000,000 and .048 of one percent on the next $20,000,000 and .024 of one percent of each dollar thereafter. However, no tax under this subsection applies to premiums for risks or portions of risks which are subject to taxation on a direct basis pursuant to subsection a. of this section. No tax under this subsection shall apply in connection with the receipt of assets in exchange for the assumption of loss reserves and other liabilities of another insurer under common ownership and control if the transaction is part of a plan to discontinue the operations of the other insurer, and if the intent of the parties to the transaction is to renew or maintain the business with the captive insurance company. c. The annual minimum aggregate tax to be paid by a captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) calculated under subsections a. and b. of this section shall be $7,500, and the annual maximum aggregate tax shall be $200,000. The maximum aggregate tax to be paid by a sponsored captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) shall apply to each protected cell only and not to the sponsored captive insurance company as a whole. d. (1) A captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) shall, on or before March 1 of each year, file with the commissioner an annual tax return, signed and sworn to by an officer of the company, or by its United States manager, if a company of a foreign country, in the form and containing matters as may be necessary for carrying out the provisions of this section. (2) A captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) shall pay the balance of any tax due under this section based on the company's business during the preceding calendar year and make an installment payment in an amount equal to one-half of the tax payable under this section on the company's business done during the preceding calendar year. (3) The examination of returns and the assessment of additional taxes, penalties and interest shall be as provided by the State Uniform Tax Procedure Law, R.S.54:48-1 et seq. e. Two or more captive insurance companies that are not combinable captive insurance companies as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) under common ownership and control shall be taxed as though they were a single captive insurance company. f. For the purposes of this section, "common ownership and control" shall mean: (1) in the case of stock corporations, the direct or indirect ownership of 80 percent or more of the outstanding voting stock of two or more corporations by the same shareholder or shareholders; and (2) in the case of mutual or nonprofit corporations, the direct or indirect ownership of 80 percent or more of the surplus and the voting power of two or more corporations by the same member or members. g. The tax provided for in this section shall constitute all taxes collectible under the laws of this State from any captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6), and a captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6) shall not pay taxes pursuant to P.L.1945, c.132 (C.54:18A-1 et seq.). h. The tax provided for by this section shall be calculated on an annual basis, notwithstanding policies or contracts of insurance or contracts of reinsurance issued on a multiyear basis. In the case of multiyear policies or contracts, the premium shall be prorated for purposes of determining the tax under this section. i. The tax provided for by this section shall only apply to the branch business of a branch captive insurance company that is not a combinable captive insurance company as defined by section 18 of P.L.2018, c.48 (C.54:10A-4.6). L.2011, c.25, s.12; amended 2018, c.48, s.30.
N.J. Stat. § 17:48E-35.13 — NJ Code / Title 17 / Chapter 48E / Section 48E-35.13
Health service corporation contract, prostate cancer testing
Status: in_force

1. No health service corporation contract providing hospital or medical expense benefits for groups with greater than 49 persons shall be delivered, issued, executed or renewed in this State, or approved for issuance or renewal in this State by the Commissioner of Insurance on or after the effective date of this act, unless the contract provides benefits to any named subscriber or other person covered thereunder for expenses incurred in conducting an annual medically recognized diagnostic examination including, but not limited to, a digital rectal examination and a prostate-specific antigen test for men age 50 and over who are asymptomatic and for men age 40 and over with a family history of prostate cancer or other prostate cancer risk factors. The benefits shall be provided to the same extent as for any other medical condition under the contract. This section shall apply to all health service corporation contracts in which the health service corporation has reserved the right to change the premium. L.1996,c.125,s.1.
N.J. Stat. § 17:9A-27.8 — NJ Code / Title 17 / Chapter 9A / Section 9A-27.8
Methods of effecting plans
Status: in_force

A plan may be effected and maintained through (a) a fund accumulated from the income of a bank, or set aside out of surplus, out of which retirement benefits may be paid directly, or which may be used, in whole or in part, for the purchase of annuity or insurance contracts, or both; or (b) A trust fund or funds accumulated or set aside and administered for the purposes and in the manner provided by paragraph (a) of this section, to be held in trust by the bank or by a trustee or trustees designated by the bank, and which shall not be subject to any law against perpetuities, restraints on alienation, or perpetual accumulations; or (c) the purchase of group annuity or insurance contracts, or both; or (d) a fund accumulated by contributions made thereto by two or more corporations which are banks, savings banks or national banks of this State or of any other State, pursuant to a retirement system created under the laws of this State or of the State of New York, limited in membership to such corporations and providing for the retirement of officers and employees of such corporations; or (e) a plan (1) which is administered by a corporation not for pecuniary profit organized under the laws of this State, (2) in which two or more banks, savings banks or national banks, participate or are members; and (3) which is underwritten by a group annuity contract issued by a life insurance company authorized to transact business in this State. L.1953, c. 124, p. 1313, s. 8.
N.J. Stat. § 17:9A-317 — NJ Code / Title 17 / Chapter 9A / Section 9A-317
Qualification of foreign bank as fiduciary
Status: in_force

317. As a prerequisite to its qualification in any fiduciary capacity specified in section 316, in any court of this State, a foreign bank shall present to the court a certificate of the commissioner certifying that it is authorized to transact business in this State pursuant to this article and shall furnish a bond if required by the court pursuant to the provisions of N.J.S.3B:15-1 . L.1948,c.67,s.317; amended 1999, c.159, s.6.
N.J. Stat. § 17:47-11 — NJ Code / Title 17 / Chapter 47 / Section 47-11
Revocation or suspension of certificate of authority
Status: in_force

The certificate of authority issued hereunder to any association of underwriters may be revoked or suspended if it violates or neglects to comply with any provision of law obligatory upon it, or when its net cash or invested funds are reduced below the minimum specified in paragraph "h" of section 17:47-3 of this title.
N.J. Stat. § 17B:27-37 — NJ Code / Title 17B / Chapter 27 / Section 27-37
Payment of premiums
Status: in_force

There shall be a provision that all premiums due under the policy shall be remitted by the employer or employers of the persons insured, by the policyholder, or by some other designated person acting on behalf of the association or group insured, to the insurer on or before the due date thereof with such period of grace as may be specified therein. L.1971, c. 144, s. 17B:27-37.
N.J. Stat. § 17:48F-18 — NJ Code / Title 17 / Chapter 48F / Section 48F-18
Suspension, revocation of certificate of authority.
Status: in_force

18. The commissioner may suspend or revoke the certificate of authority issued to a prepaid prescription service organization pursuant to this act upon his determination that: a. The organization is operating significantly in contravention of its basic organizational document; b. The organization issues an evidence of coverage or uses rates or charges which do not comply with the requirements of this act; c. The organization is unable to fulfill its obligations to enrollees or prospective enrollees; d. The tangible net equity of the organization is less than that required by this act, or the organization has failed to correct any deficiency in its tangible net equity as required by the commissioner; e. The organization has failed to implement in a reasonable manner the complaint system required to be established by this act; f. The continued operation of the organization would be hazardous to the health and welfare of its enrollees; g. The organization has failed to file any report required pursuant to this act; or h. The organization has otherwise failed to comply with this act. L.1997,c.380,s.18.
N.J. Stat. § 17:14A-90 — NJ Code / Title 17 / Chapter 14A / Section 14A-90
Surveillance systems
Status: in_force

A surveillance system shall be provided for each office of a safe deposit company which shall: a. Be equipped with one or more photographic, recording, monitoring, or like devices capable of reproducing images of persons in the safe deposit company office with sufficient clarity to facilitate (through photographs capable of being enlarged to produce a one-inch vertical head-size of persons whose images have been reproduced) the identification and apprehension of robbers or other suspicious persons. Any camera used in the system shall be capable of taking at least one picture every two seconds and, if it uses film, should contain enough unexposed film at all times to be capable of operating for not less than three minutes, and the film shall be at least 16mm, and (1) Located so as to reproduce identifiable images of persons either leaving the safe deposit company office or in a position to transact business at the office; and (2) Capable of actuation by initiating devices located throughout the office; b. Be reasonably silent in operation; and c. Be so designed and constructed that necessary services, repairs or inspections can readily be made. L.1983, c. 566, s. 17:14A-90.
N.J. Stat. § 17:16M-1 — NJ Code / Title 17 / Chapter 16M / Section 16M-1
Definitions
Status: in_force

As used in this act: "Capital stock association" shall have the meaning ascribed to it in section 15 of P.L.1974, c.137 (C.17:12B-244). "Capital stock savings bank" shall have the meaning ascribed to it in section 1 of P.L.1982, c.9 (C.17:9A-8.1). "Commissioner" means the Commissioner of Banking. "Department" means the Department of Banking. "Federal Deposit Insurance Corporation" means the corporation so named, organized pursuant to an Act of Congress, or any federal corporation, instrumentality or agency which succeeds to the powers and functions of the Federal Deposit Insurance Corporation or undertakes to discharge the purposes for which said corporation was created. "Mutual savings bank" means any savings bank organized pursuant to the provisions of P.L.1948, c.67 (C.17:9A-1 et seq.) without capital stock. "State association" and "mutual association" shall have the meanings ascribed to those terms in section 5 of P.L.1963, c.144 (C.17:12B-5). "Savings bank" shall have the meaning ascribed to it in section 1 of P.L.1948, c.67 (C.17:9A-1). L.1991,c.42,s.1.
N.J. Stat. § 17:12B-281 — NJ Code / Title 17 / Chapter 12B / Section 12B-281
Definitions
Status: in_force

As used in this act: a. "Insured institution" and "savings and loan holding company" shall have the respective meanings set forth in Title IV, section 408 of the "National Housing Act," as amended (12 U.S.C. s. 1730a). b. "State association" means any savings and loan association, building and loan association, or any corporation, however named, operating pursuant to the provisions of P.L. 1963, c. 144 (C. 17:12B-1 et seq.). "State association" shall also include a person who controls an association when used in section 4 of this act. c. "Person" means an individual or company. d. "Company" means any corporation, partnership, trust, joint-stock company, association or similar organization, but does not include the Federal Savings and Loan Insurance Corporation, any Federal Home Loan Bank, or any company the majority of the shares of which is owned by the United States or any state, or by an officer of the United States or any state in his official capacity, or by an instrumentality of the United States or any state. e. (1) "Control" of an insured institution or state association means: (a) Owning, controlling, or having power to vote 25% or more of the outstanding shares of any class of voting securities of an insured institution, directly or indirectly, or acting through one or more persons; (b) Controlling in any manner the election of a majority of the directors, trustees, general partners, or individuals exercising similar functions of the insured institution; or (c) Exercising or having the power to exercise directly or indirectly a controlling influence over the management or policies of an insured institution; (2) A person which is a state association shall not be deemed to control voting securities or assets of a state association acquired: (a) in good faith in a fiduciary capacity, except where those voting securities are held in a trust that constitutes a company; or (b) in the regular course of securing or collecting a debt previously contracted in good faith which securities are disposed of within a period of two years after the date on which they were acquired or after the enactment of this act, whichever is later; (3) A person is deemed to control voting securities or assets owned, controlled, or held directly or indirectly: (a) by any subsidiary of the person; or (b) in a fiduciary capacity, including by pension and profit-sharing trusts, for the benefit of the shareholders, members, employees, or individuals serving in similar capacities, of the person or of any of its subsidiaries; or (c) in a fiduciary capacity for the benefit of the person or any of its subsidiaries. f. "Subsidiary" means any person or company which is controlled by another person or company. g. "Voting securities" means shares of common or preferred stock, general or limited partnership shares or interests or similar interests if the shares or interests, by statute, charter, or in any manner, entitle the holder: (1) to vote for or to select directors, trustees, partners, or persons exercising similar functions for the issuing company; or (2) to vote on or to direct the conduct of the operations or other significant policies of the issuing person. Preferred shares, limited partnership shares or interests, or similar interests are not "voting securities" if: (1) any voting rights associated with the shares or interests, including the right to select or vote for the selection of directors, trustees, or partners or persons exercising similar functions, are limited solely to the type customarily provided by statute with regard to matters that would significantly and adversely affect the rights or preference of the security or other interest, such as the issuance of additional amounts or classes of senior securities, the modification of the terms of the security or interest, the dissolution of the issuing person, or the payment of dividends by the issuing person when preferred dividends are in arrears, or, entitle the holder thereof to vote for the election of directors, trustees or partners or persons exercising similar functions only as the result of the failure to pay a dividend or to fulfill an obligation or satisfy a condition specified by the terms of the shares or interests; and (2) the shares or interests represent an essentially passive investment or financing device and do not otherwise provide the holder with control over the issuing person. h. "Commissioner" means the Commissioner of Banking. i. "Department" means the Department of Banking. j. "United States" means the United States and includes any of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, and the Virgin Islands. L. 1987, c. 225, s. 1.
N.J. Stat. § 17:12B-40.1 — NJ Code / Title 17 / Chapter 12B / Section 12B-40.1
Failure to open and operate relocated principal office; effect
Status: in_force

The failure of a State association to open and operate a relocated principal office within 12 months after the commissioner approves the application therefor, shall automatically terminate the right of the State association to open such relocated principal office, except that, for good cause shown, the commissioner may, in his discretion, on application of the State association, extend for additional periods, not in excess of 12 months each, the time within which such relocated principal office may be opened, provided that the initial application shall be made before the expiration of 12 months from the date authority is granted to relocate such principal office and any subsequent application shall be made before the expiration of any subsequent period for which permission to extend has been granted by the commissioner. L.1981, c. 376, s. 10, eff. Dec. 31, 1981.
N.J. Stat. § 17B:27A-19.19 — NJ Code / Title 17B / Chapter 27A / Section 27A-19.19
Small employer health benefits plan to provide installment payments to obstetrical provider for maternity services.
Status: in_force

7. a. Every small employer health benefits plan that provides benefits for maternity services, and that 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 for reimbursement in installments to an obstetrical provider licensed in New Jersey for maternity services rendered during the term of a covered person's pregnancy. b. For the purposes of this section, "obstetrical provider licensed in New Jersey" means: (1) an obstetrician/gynecologist licensed by the State Board of Medical Examiners; or (2) a midwife licensed by the State Board of Medical Examiners as a certified midwife or a certified nurse midwife. c. This section shall apply to all small employer health benefits plans in which the carrier has reserved the right to change the premium. L.2009, c.113, s.7.
N.J. Stat. § 17B:35-6 — NJ Code / Title 17B / Chapter 35 / Section 35-6
Impairment or effect on acts, offenses, rights, penalties, etc., prior to effective date of act
Status: in_force

This act shall not impair or affect any act done, offense committed, or right accruing, accrued, or acquired, or liability, penalty, forfeiture or punishment incurred, prior to the time this act takes effect, but the same may be enjoyed, asserted, enforced, prosecuted or inflicted, as fully and to the same extent as if this act had not been passed. L.1971, c. 144, s. 17B:35-6.
N.J. Stat. § 17:33B-56 — NJ Code / Title 17 / Chapter 33B / Section 33B-56
Exemption, abatement, deferral if payment of assessment will result in insurer's financial condition becoming unsafe or unsound
Status: in_force

The commissioner may provide that the association exempt, abate or defer, in whole or in part, the assessment on any member insurer imposed pursuant to paragraph (9) of subsection a. of section 8 of P.L.1974, c.17 (C.17:30A-8), if the commissioner, in his discretion, determines that payment of the assessment will result in an insurer's financial condition becoming unsafe or unsound. In making this determination, the commissioner shall consider the following factors: a. The insurer's ratio of annual net premiums written to surplus as to policyholders; and b. Whether the insurer would experience: (1) an adverse change in its rating by A.M. Best and Company, Dun and Bradstreet, Moody's or Standard and Poor's; (2) financial ratios outside the acceptable ranges as established by the National Association of Insurance Commissioners or the chief financial officer of the Department of Insurance of this State; or (3) a net reduction to the insurer's surplus as to policyholders greater than 25% during a period of two years or less. Any exemption, abatement or deferral pursuant to this section shall continue until the commissioner, upon the commissioner's own motion or upon request by the insurer or any other interested party, after providing opportunity for a hearing, orders its revocation. L.1990,c.8,s.96.
N.J. Stat. § 17:51A-5 — NJ Code / Title 17 / Chapter 51A / Section 51A-5
Powers of supervision
Status: in_force

5. During the period of supervision, the commissioner or his designated appointee shall serve as the administrative supervisor. The commissioner may prohibit the insurer from doing any of the following during the period of supervision, without the prior approval of the administrative supervisor: a. Dispose of, convey or encumber any of its assets or its business in force; b. Withdraw any of its bank accounts; c. Lend any of its funds; d. Invest any of its funds; e. Transfer any of its property; f. Incur any debt, obligation or liability; g. Merge or consolidate with another company; h. Approve new premiums or renew any policies; i. Enter into any reinsurance contract or treaty; j. Terminate, surrender, forfeit, convert or lapse any insurance policy, certificate or contract, except for nonpayment of premiums; k. Release, pay or refund premium deposits, accrued cash or loan values, unearned premiums, or other reserves on any insurance policy, certificate or contract; l. Make any material change in management; m. Increase salaries and benefits of officers, directors, or employees, or the payment of bonuses, dividends or other payments; or n. Such other acts as the commissioner deems necessary to protect the interests of the insurer's policyholders and the public. L.1993,c.245,s.5.
N.J. Stat. § 17B:27A-31 — NJ Code / Title 17B / Chapter 27A / Section 27A-31
Contents of plan of operation
Status: in_force

15. The plan of operation shall constitute a public record and shall include, but not be limited to, the following: a. A method of handling and accounting for assets and moneys of the program and an annual fiscal reporting to the commissioner; b. A means of providing for the filling of vacancies on the board, subject to the approval of the commissioner; and c. (Deleted by amendment, P.L.1993, c.162). d. (Deleted by amendment, P.L.1995, c.298). e. (Deleted by amendment, P.L.1995, c.298). f. (Deleted by amendment, P.L.1995, c.298). g. Any additional matters which are appropriate to effectuate the provisions of this act. L.1992,c.162,s.15; amended 1993,c.162,s.7; 1994,c.11,s.5; 1995,c.298,s.7.
N.J. Stat. § 17:30D-3 — NJ Code / Title 17 / Chapter 30D / Section 30D-3
Definitions.
Status: in_force

3. As used in this act: a. "Association" means the New Jersey Medical Malpractice Reinsurance Association established pursuant to the provisions of this act. b. "Commissioner" means the Commissioner of Banking and Insurance. c. "Licensed medical practitioner" means and includes all persons licensed in this State to practice medicine and surgery, chiropractic, podiatric medicine, dentistry, optometry, psychology, pharmacy, nursing, physical therapy and as a bioanalytical laboratory director. d. "Medical malpractice liability insurance" means insurance coverage against the legal liability of the insured and against loss, damage or expense incident to a claim arising out of the death or injury of any person as the result of negligence or malpractice in rendering professional service by any licensed medical practitioner or health care facility or a claim arising out of ownership, operation or maintenance of the practitioner's or facility's business premises, including primary and excess coverages. e. "Health care facility" means and includes all hospitals within this State, and any other health care facility as defined in the "Health Care Facilities Planning Act." P.L.1971, c.136 (C.26:2H-1 et seq.). f. "Plan of operation" means the plan of operation of the association approved by the commissioner pursuant to the provisions of this act. g. "Net direct premium written" means direct written personal injury liability and property damage liability insurance as provided in R.S.17:17-1 d. and e., excluding workmen's compensation and employer's liability insurance written in connection therewith, less policyholder dividends and return premiums for the unused or unabsorbed portion of premium deposits and excluding premiums ceded to or written by the association. h. "Provider" means an insurer admitted and licensed in this State to write general liability insurance which has been qualified by the board of directors of the association and has not been disqualified by the commissioner. L.1975,c.301,s.3; amended 1978, c.153, s.2; 2005, c.259, s.23.
N.J. Stat. § 17:9A-59.37 — NJ Code / Title 17 / Chapter 9A / Section 9A-59.37
Violation; penalty; civil action
Status: in_force

If a bank knowingly violates any provision of this act in the making or collection of a small business loan, the bank shall forfeit the entire finance charge made on such loan, and the borrower, or his legal representatives, successors or assigns, may recover back, in an action against the bank, twice the amount of the finance charge made by the bank on such loan; provided, such action is commenced within 2 years from the date such violation occurred. The amount of any credit allowed pursuant to section 11 of this act shall be credited against the finance charge made on such loan for the purposes of this section. L.1964, c. 162, s. 13.
N.J. Stat. § 17B:30-55.6 — NJ Code / Title 17B / Chapter 30 / Section 30-55.6
Carrier, respond, prior authorization requests, medication coverage submitted, NCPDP SCRIPT Standard for ePA transactions.
Status: in_force

7. a. A carrier shall respond to prior authorization requests for medication coverage submitted using the NCPDP SCRIPT Standard for ePA (electronic prior authorization) transactions, under the pharmacy benefit part of a health benefits plan, within 24 hours for urgent requests and 72 hours for non-urgent requests after obtaining all necessary information to make the approval or adverse determination. b. Beginning January 1, 2027, a carrier shall only accept and respond to prior authorization requests for medication coverage, under the pharmacy benefit part of a health benefits plan submitted through a secure electronic transmission using the NCPDP SCRIPT Standard for ePA transactions. L.2023, c.296, s.7.
N.J. Stat. § 17:22E-5 — NJ Code / Title 17 / Chapter 22E / Section 22E-5
Refusal of authorization
Status: in_force

5. The commissioner may refuse to authorize a person to act as a reinsurance intermediary if, in his judgment, the person, anyone named on the application, or any member, principal, officer or director of the applicant, is not trustworthy, or that any controlling person of the applicant is not trustworthy to act as a reinsurance intermediary, or that any of these persons have given cause for revocation or suspension of that authorization, or have failed to comply with any prerequisite for that authorization. Upon written request therefor, the commissioner shall furnish a summary of the basis for refusal of such authorization, which document shall be privileged and not subject to P.L.1963, c.73 (C.47:1A-1 et seq.). L.1993,c.244,s.5.
N.J. Stat. § 17B:32-71 — NJ Code / Title 17B / Chapter 32 / Section 32-71
Priority of distribution of claims
Status: in_force

41. a. The priority of distribution of claims from the insurer's estate shall be in accordance with the order in which each class of claims is set forth in this section. Every claim in each class shall be paid in full or adequate funds or other assets retained for such payment before the members of the next class receive any payment. No subclasses shall be established within any class. The order of distribution of claims shall be: (1) Class 1. The costs and expenses of administration during rehabilitation and liquidation, including but not limited to the following: (a) The actual and necessary costs of preserving or recovering the assets of the insurer; (b) Compensation for all authorized services rendered in the rehabilitation and liquidation; (c) Any necessary filing fees; (d) The fees and mileage payable to witnesses; (e) Authorized reasonable attorney's fees and other professional services rendered in the rehabilitation and liquidation; (f) The reasonable expenses of a guaranty association or foreign guaranty association for unallocated loss adjustment expenses. For purposes of this subparagraph, "unallocated loss adjustment expenses" means expenses associated with claims settlement due to the insolvency of a member insurer that cannot be assigned to an individual claim. (2) Class 2. Reasonable compensation to employees for services performed to the extent that they do not exceed two months of monetary compensation and represent payment for services performed within one year before the filing of the petition for liquidation or, if rehabilitation preceded liquidation, within one year before the filing of the petition for rehabilitation. Principal officers and directors shall not be entitled to the benefit of this priority except as otherwise approved by the liquidator and the court. Such priority shall be in lieu of any other similar priority which may be authorized by law as to wages or compensation of employees. (3) Class 3. All claims under policies, including claims of the federal or any state or local government for losses incurred and including third party claims and all claims of a guaranty association or foreign guaranty association, but excluding amounts recoverable under Class 1 claims pursuant to paragraph (1) of this subsection. All claims under life insurance and annuity policies, whether for death proceeds, annuity proceeds, or investment values, shall be treated as loss claims. For the purpose of this section, life insurance and annuity policies shall include, but not be limited to, any and all individual and group annuity and investment contracts issued by an insurer under or in connection with an employee benefit plan or program to which section 401, 403(b), 408 or 457 of the federal Internal Revenue Code of 1986 (26 U.S.C. s.401, 403(b), 408 or 457) relates, to whomever or whatever persons or entities such contracts are issued, together with all individual annuities issued pursuant to any such contracts. That portion of any loss, indemnification for which is provided by other benefits or advantages recovered by the claimant, shall not be included in this class, other than benefits or advantages recovered or recoverable in discharge of familial obligation of support or by way of succession at death or as proceeds of life insurance, or as gratuities. No payment by an employer to his employee shall be treated as a gratuity. Claims of enrollees, members or subscribers, and their beneficiaries, of a fraternal benefit society, mutual benefit association, hospital service corporation, medical service corporation, health service corporation, dental service corporation, dental plan organization or health maintenance organization, as the case may be, shall have the same priority established by this section for policyholders and beneficiaries of insurers. Any provider of health care services to an enrollee, member or subscriber shall have a priority of distribution of general assets immediately following that of enrollees, members or subscribers and their beneficiaries, and immediately preceding Class 4 claims under paragraph (4) of this subsection. (4) Class 4. Claims under nonassessable policies for unearned premium or other premium refunds and claims of general creditors including claims of ceding and assuming companies in their capacity as such. (5) Class 5. Claims of the federal or any state or local government except those under Class 3 claims pursuant to paragraph (3) of subsection a. of this section. Claims, including those of any governmental body for a penalty or forfeiture, shall be allowed in this class only to the extent of the pecuniary loss sustained from the act, transaction or proceeding out of which the penalty or forfeiture arose, with reasonable and actual costs occasioned thereby. The remainder of such claims shall be postponed to the Class 8 claims under paragraph (8) of this subsection. (6) Class 6. Claims filed late or any other claims other than Class 7 and Class 8 claims under paragraphs (7) and (8) of this subsection. (7) Class 7. Surplus or contribution notes, or similar obligations, and premium refunds on assessable policies. Payments to members of domestic mutual insurance companies shall be limited in accordance with law. (8) Class 8. The claims of shareholders or other owners in their capacity as shareholders. b. Every claim under a separate account agreement providing, in effect, that the assets in the separate account shall not be chargeable with liabilities arising out of any other business of the insurer shall be satisfied out of the assets in the separate account equal to the reserves maintained in that account for that agreement. To the extent, if any, that a claim under a separate account agreement is not fully discharged by such assets, such claim shall be treated as a Class 3 claim pursuant to paragraph (3) of subsection a. of this section against the estate of the insurer. L.1992,c.65,s.41.
N.J. Stat. § 17:48-9 — NJ Code / Title 17 / Chapter 48 / Section 48-9
Schedule of rates; filing; disapproval by Commissioner
Status: in_force

No corporation subject to the provisions of this act shall enter into any contract with a subscriber unless and until it shall have filed with the Commissioner of Banking and Insurance a full schedule of the rates to be paid by the subscribers to such contracts. The commissioner may disapprove such schedule at any time if he finds that such rates are excessive, inadequate or discriminatory. It shall be unlawful for any corporation to effect any contract according to such rates thereafter. Such disapproval of the commissioner shall be subject to review by the Superior Court in a proceeding in lieu of prerogative writ. L.1938, c. 366, p. 929, s. 9. Amended by L.1953, c. 17, p. 289, s. 176.
N.J. Stat. § 17:16F-33 — NJ Code / Title 17 / Chapter 16F / Section 16F-33
Expiration of initial license; renewals; fees.
Status: in_force

7. a. An initial mortgage servicer license shall expire at the close of business on December 31 of the year in which it is approved, except that any license that is approved on or after November 1 shall expire at the close of business on December 31 of the year following the year in which it is approved. An application for renewal of a license shall be filed between November 1 and December 31 of the year in which the license expires and a renewal license shall expire at the close of business on December 31 of the third year after the year in which it was approved. Each applicant for an initial license or renewal of a license as a mortgage servicer shall pay to the department any required fees or charges and a license fee of $1,000. Each applicant for a renewal license shall pay to the department any required fees or charges and a license fee of $3,000. b. All fees paid pursuant to this section, including fees paid in connection with an application that is denied or withdrawn prior to the issuance of the license, shall be nonrefundable. A fee paid pursuant to this section shall not be prorated if the license is surrendered, revoked or suspended prior to the expiration of the period for which it was approved. L.2019, c.65, s.7.
N.J. Stat. § 17:16C-40.2 — NJ Code / Title 17 / Chapter 16C / Section 16C-40.2
Violation of provisions; revocation or suspension of license
Status: in_force

A violation of any provision of this act shall be cause for the revocation or suspension of the license of the sales finance company by the commissioner upon notice and opportunity to be heard in accordance with the provisions of P.L.1958, chapter 68. L.1961, c. 95, p. 663, s. 2.
N.J. Stat. § 17B:27A-10.4 — NJ Code / Title 17B / Chapter 27A / Section 27A-10.4
Health Insurance Premium Security Plan.
Status: in_force

4. a. There is hereby established, and the board in consultation with the commissioner shall administer, the Health Insurance Premium Security Plan. b. The board or commissioner may apply for any available federal funding for the plan. All funds received pursuant to an application for federal funding, assessed by the board pursuant to this act, or otherwise dedicated to the fund shall be remitted to the State Treasurer and deposited in the fund. c. The commissioner, in consultation with the board, shall collect data from carriers necessary to determine the reinsurance payment parameters and shall share this data with the board. d. For each applicable benefit year, the board shall notify carriers, the commissioner, and the State Treasurer of the reinsurance payments to be made for the applicable benefit year no later than June 30 of the year following the applicable benefit year. e. On a quarterly basis during the applicable benefit year, the board shall provide each eligible carrier and the commissioner with the calculation of total reinsurance payment requests. f. By November 1 of the year following the applicable benefit year, the State Treasurer shall disburse all applicable reinsurance payments to an eligible carrier. g. The board, subject to the disapproval of the commissioner pursuant to section 5 of this act, shall design and adjust the payment parameters to ensure the payment parameters: (1) will stabilize or reduce premium rates in the individual market by achieving between a 10% and 20% reduction in what indicated premium rates would be for the applicable benefit year without the plan; (2) will encourage increased participation in the individual market; (3) mitigate the impact high-risk individuals have on premium rates in the individual market; (4) take into account any federal funding available for the plan; (5) take into account the total amount available to fund the plan; and (6) encourage cost savings mechanisms related to the management of health care services. h. The attachment point for the plan is the threshold amount for paid claims by an eligible carrier for an enrolled individual's covered benefits in a benefit year, beyond which the paid claims are eligible for reinsurance payments. The attachment point shall be set by the board, but shall not exceed the reinsurance cap. i. The coinsurance rate for the plan is the rate at which the board will reimburse an eligible carrier for paid claims for an enrolled individual's covered benefits in a benefit year above the attachment point and below the reinsurance cap. The coinsurance rate shall be set by the board. j. The reinsurance cap is the amount for paid claims of an eligible carrier for an enrolled individual's covered benefits, above which the paid claims for benefits are no longer eligible for reinsurance payments. The reinsurance cap shall be set by the board. L.2018, c.24, s.4.
N.J. Stat. § 17:11C-57 — NJ Code / Title 17 / Chapter 11C / Section 11C-57
Issuance of licenses for mortgage loan originators, individual licensees, lenders, brokers.
Status: in_force

7. Beginning no later than July 31, 2010, or a later date approved by the Secretary of the United States Department of Housing and Urban Development pursuant to the provisions of section 1508 of the federal "Secure and Fair Enforcement for Mortgage Licensing Act of 2008," Pub.L.110-289 (12 U.S.C. s.5107), the commissioner shall begin issuing licenses for individual licensees under this act, utilizing the Nationwide Mortgage Licensing System and Registry, or other entity designated by that nationwide system and registry, as required or permitted by the federal "Secure and Fair Enforcement for Mortgage Licensing Act of 2008" and as otherwise deemed appropriate by the commissioner to carry out the provisions of this act, if the following conditions are met: a. For mortgage loan originators and transitional mortgage loan originators: (1) A completed application for a new license or for a renewal of a license, submitted to the commissioner on the form, in the manner, and with appropriate evidence in support of the application, as required by this act and as may be prescribed by the commissioner. (2) A background check in connection with an application, based upon information provided to and received from the Division of State Police, and provided to and received from or through the Nationwide Mortgage Licensing System and Registry, which does not contain any disqualifying information as set forth in this paragraph. The background check shall include a State criminal history record background check based upon an exchange of fingerprint data with the State Bureau of Identification in the Division of State Police, for which the division shall promptly notify the commissioner if the subject of the original criminal history record background check is arrested for a crime or offense in this State after the date the background check was performed, and a check of both criminal and non-criminal information as requested from and distributed to the Federal Bureau of Investigation and any other governmental agency through the Nationwide Mortgage Licensing System and Registry as follows: (a) fingerprints, for submission to the Federal Bureau of Investigation and any other governmental agency authorized to receive this information for a state, federal, and international criminal history record background check, to determine whether the individual has been convicted of, or pled guilty or nolo contendere to, a felony in a domestic court, which in this State includes any crime of the fourth degree or higher punishable by a term of imprisonment of more than one year, or in a foreign or military court: (i) during the seven-year period preceding the filing of the application, except that a conviction under this sub-subparagraph which is pardoned or expunged shall not be considered disqualifying information; or (ii) at any time preceding the filing of the application, if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering, except that a conviction under this sub-subparagraph which is pardoned or expunged shall not be considered disqualifying information; and (b) personal history and experience, collected in a form prescribed by the Nationwide Mortgage Licensing System and Registry, and with the permission of the applicant, in order for that nationwide system and registry and the commissioner to obtain: (i) an independent credit report from a consumer reporting agency described in section 603(p) of the Fair Credit Reporting Act, Pub.L.91-508 (15 U.S.C.s.1681a(p)), for use in making a determination of character and fitness pursuant to paragraph (3) of this subsection; and (ii) information related to any administrative, civil or criminal findings by any governmental jurisdiction, to determine whether the individual had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subsequent, formal vacation of a revocation shall not be considered disqualifying information. (3) A determination of character and fitness, based upon the information related to personal history and experience obtained pursuant to subparagraph (b) of paragraph (2) of this subsection and other available sources, whereby the applicant has demonstrated financial responsibility, character, and general fitness as to command the confidence of the community and to warrant a determination that as a mortgage loan originator the applicant will operate honestly, fairly, and efficiently within the purposes of this act. For the purposes of this paragraph, a determination by the National Mortgage Licensing System and Registry that the applicant cheated or attempted to cheat on an examination required for licensure or for continued licensure under P.L.2009, c.53 (C.17:11C-51 et seq.) shall be evidence that the applicant lacks the requisite character and fitness for licensure. For purposes of this paragraph, an applicant has demonstrated not to be financially responsible if the applicant has shown a disregard in the management of the applicant's own financial condition, which may include, but is not limited to: (a) current outstanding judgments, except judgments solely as a result of medical expenses; (b) current outstanding tax liens or other government liens and filings; (c) foreclosures during the three-year period preceding the filing of the application; or (d) a pattern of seriously delinquent accounts during the three-year period preceding the filing of the application. (4) A demonstration of employment by one, and not more than one, business licensee as required by paragraph (1) of subsection c. of section 4 of this act. (5) The completion of any pre-licensing education requirements as set forth in section 9 of this act. (6) The successful passage of a qualified written test based upon the testing requirements as set forth in section 10 of this act. (7) The completion of any continuing education requirements, if applicable, as set forth in section 11 of this act. (8) A registration with the Nationwide Mortgage Licensing System and Registry as required by section 12 of this act. (9) A demonstration of coverage by a surety bond as required by section 13 of this act. (10) The payment of any required fees under this act, as established by the commissioner by regulation and payable to the commissioner or, by arrangement of the commissioner, to the Nationwide Mortgage Licensing System and Registry on behalf of the commissioner, or as set forth by the nationwide system and registry and payable to that nationwide system and registry. b. For qualified individual licensees: (1) A completed application for a new license or for a renewal of a license as a qualified licensed individual for a residential mortgage lender or broker, submitted to the commissioner on the form, in the manner, and with appropriate evidence in support of the application, whereby the applicant follows the licensing procedure and meets the licensing criteria applicable to a mortgage loan originator, as set forth in subsection a. of this section, except that the applicant shall not request or be issued a separate license as a mortgage loan originator under that subsection. (2) A determination with respect to any stricter or additional licensing requirements that the commissioner may, by regulation, establish. (3) The payment of any required fees under this act, as established by the commissioner by regulation and payable to the commissioner or, by arrangement of the commissioner, to the Nationwide Mortgage Licensing System and Registry on behalf of the commissioner, or as set forth by the nationwide system and registry and payable to that nationwide system and registry. c. For individuals, the following provisions shall also apply: (1) An applicant for a mortgage loan originator license who has met all the requirements for licensure except the demonstration of employment referenced in paragraph (4) of subsection a. of this section shall be considered to be in approved inactive status and designated as such in the Nationwide Mortgage Licensing System and Registry and may remain in that status for as long as the applicant renews the approved inactive status annually and meets the continuing education requirements as required by section 11 of P.L.2009, c.53 (C.17:11C-61). (2) An applicant for licensure as an individual licensee who has unresolved credit issues but who demonstrates to the satisfaction of the commissioner a good faith effort to achieve the level of financial responsibility required by paragraph (3) of subsection a. of section 7 of P.L.2009, c.53 (C.17:11C-57) may be deemed in approved conditional status and be designated as such in the Nationwide Mortgage Licensing System and Registry. The applicant may remain in approved conditional status so long as the applicant continues to demonstrate substantial progress toward the achievement of financial responsibility, renews the applicant's mortgage loan originator license or qualified individual license annually, and meets the continuing education requirements established by section 11 of P.L.2009, c.53 (C.17:11C-61). Upon demonstration to the satisfaction of the commissioner that the applicant has achieved financial responsibility, and predicated on the applicant continuing to fulfill all other applicable requirements for such status, the license status of the individual shall be revised to approved. While the applicant's license is in approved conditional status, an individual may engage in activity as a mortgage loan originator or a qualified individual licensee in accordance with the provisions of P.L.2009, c.53 (C.17:11C-51 et seq.) and all applicable rules. (3) For applicants as individual licensees, an offense that was the subject of an order granting the individual admission to the New Jersey Pre-trial Intervention Program pursuant to the provisions of N.J.S. 2C:43-12 through 22, and such offense having been dismissed with prejudice in accordance with subsection d. of N.J.S. 2C:43-13, or the applicant having been admitted to a functionally equivalent program of another state or of the United Stated whereby an offense was dismissed or a felony conviction was avoided or eliminated from the record upon the applicant having successfully completed the program as established by the submission of confirming documentation, shall not be considered disqualifying information for purposes of subsection a. of this section. (4) The commissioner may deem abandoned an application for licensure as a mortgage loan originator, transitional mortgage loan originator, or a qualified individual licensee if the application fails to meet all of the requirements of a complete application within 90 days of the date on which the application was initially submitted. A person whose application is deemed abandoned shall be required to submit a new application in order to pursue licensure as a mortgage loan originator, transitional mortgage loan originator, or a qualified individual licensee. The commissioner may adopt rules addressing notices of abandonment and the subsequent submission of new applications.
L.2009, c.53, s.7; amended 2018, c.108, s.5.
N.J. Stat. § 17:16D-2 — NJ Code / Title 17 / Chapter 16D / Section 16D-2
Definitions
Status: in_force

For the purposes of this act-- (a) "Insurance premium finance company" means a person engaged in the business of entering into insurance premium finance agreements or acquiring premium finance agreements from insurance agents or insurance brokers. (b) "Insurance premium finance agreement" means an agreement by which an insured or prospective insured promises to pay to a premium finance company either directly or indirectly the amount advanced or to be advanced under the agreement by said premium finance company to an insurer or to an insurance agent or insurance broker in payment of premiums on an insurance contract together with a finance charge as authorized and limited by this act. (c) "Licensee" means an insurance premium finance company holding a license issued by the commissioner under this act. L.1968, c. 221, s. 2.
N.J. Stat. § 17B:26-2.1q — NJ Code / Title 17B / Chapter 26 / Section 26-2.1q
Coverage for treatment of domestic violence injuries by individual health insurance policy.
Status: in_force

4. Except as otherwise provided in P.L.1992, c.161 (C.17B:27A-2 et seq.), no individual health insurance policy providing hospital or medical expense benefits shall contain any provision which denies benefits for expenses incurred in the treatment of an injury or injuries sustained as the result of domestic violence as defined in section 3 of P.L.1991, c.261 (C.2C:25-19), to a named insured or other person covered thereunder. Benefits shall be provided to the same extent as for any other treatment under the policy. The provisions of this section shall apply to all policies in which the insurer has reserved the right to change the premium. L.1998,c.97,s.4.
N.J. Stat. § 17:30D-7 — NJ Code / Title 17 / Chapter 30D / Section 30D-7
Plan of operation; review and approval; certification; amendment.
Status: in_force

7. a. Within such a time as shall be prescribed by the commissioner in written notice to the board, the directors shall submit to the commissioner, for his review and approval, a proposed plan of operation. Such plan shall provide for the establishment of a permanent board of directors, the length of terms of the directors and the method of their selection, for economical, fair and nondiscriminatory administration and for the prompt and efficient provision of medical malpractice liability insurance throughout the State. Such proposed plan shall include: preliminary assessment of all members for initial expenses necessary to commence operations; establishment of necessary facilities; management of the association; assessment of members; underwriting standards; procedures for acceptance and session of reinsurance; and such other provisions as may be deemed necessary by the commissioner to carry out the purposes of this act. The plan of operation shall provide that the premium charged for reinsurance shall be the premium charged for the coverage and limits ceded less than expense allowances. The expense allowances shall consist of the amounts actually incurred by the provider on the ceded risk subject to a maximum of the total expense allowances provided in rate-making for the respective categories and subcategories of medical malpractice liability insurance in the latest rate revision or experience review for the provider accepted by the commissioner. b. The proposed plan shall be reviewed by the commissioner and approved by him if he finds that such plan fulfills the purposes of this act. In his review of the proposed plan the commissioner may, in his discretion, consult with the directors and other members of the association and any other individual or organization. If the commissioner approves the proposed plan he shall certify such approval to the directors and said plan shall take effect 10 days after such certification. If the commissioner disapproves all or any part of the proposed plan of operation he shall return same to the directors with a statement, in writing, of the reasons for his disapproval and any recommendations he may wish to make. The directors may accept the commissioner's recommendations, or may propose a new plan, which accepted recommendations or a new plan shall be submitted to the commissioner within 30 days after the return of a disapproved plan to the directors. If the directors do not submit a proposed plan of operation within the time prescribed by the commissioner, or a new plan which is acceptable to the commissioner, or accept the recommendations of the commissioner within 30 days after the disapproval of a proposed plan, the commissioner shall promulgate a plan of operation and certify same to the directors. Any such plan promulgated by the commissioner shall take effect 10 days after certification to the directors. c. The directors of the association may, on their own initiative, amend the plan of operation at any time, subject to the approval by the commissioner. d. The commissioner may review the plan of operation whenever he deems expedient, and shall review same at least once a year, and may amend said plan after consultation with the directors and upon certification to the directors of such amendment. L.1975,c.301,s.7; amended 1978,c.153,s.5.
N.J. Stat. § 17:29A-38 — NJ Code / Title 17 / Chapter 29A / Section 29A-38
Reduction of rates; operators 65 years of age or older
Status: in_force

Within 60 days following the effective date of this act, every filer shall reduce by at least 5% the rates of all principal operators 65 years of age or older from the rates in effect as of the effective date of this act. On or before the effective date of this reduction, every filer shall make an informational filing with the commissioner reflecting the change. L.1983, c. 65, s. 9, eff. Jan. 1, 1983.
N.J. Stat. § 17:9A-131.31 — NJ Code / Title 17 / Chapter 9A / Section 9A-131.31
Application of act
Status: in_force

This act shall not apply to any borrowing by a bank, however evidenced, which is payable in 1 year or less from the date of such borrowing nor shall the provisions of sections 4, 9 and 10 of this act apply to any obligation issued by a bank to evidence a loan or loans made to such bank by the New Jersey Mortgage Finance Agency pursuant to the New Jersey Mortgage Finance Agency Law, P.L.1970, c. 38, nor shall the following sections of this act apply to capital notes issued as an incident of a merger effected pursuant to article 21 (C. 17:9A-132 to 17:9A-148) of The Banking Act of 1948, P.L.1948, c. 67: a. Section 1 (C. 17:9A-131.20), insofar as it provides that capital notes may be issued only to evidence obligations to repay money borrowed by a bank; b. Section 3 (C. 17:9A-131.32), insofar as it provides that capital notes may be issued only for cash, and insofar as it provides that such notes may be converted only into common stock; c. Section 6 (C. 17:9A-131.25); d. Section 7 (C. 17:9A-131.26); and e. Section 11 (C. 17:9A-131.30). L.1966, c. 272, s. 12. Amended by L.1970, c. 244, s. 1, eff. Oct. 28, 1970; L.1977, c. 416, s. 2, eff. Feb. 24, 1978.
N.J. Stat. § 17:48E-54 — NJ Code / Title 17 / Chapter 48E / Section 48E-54
Transfer of fair market value.
Status: in_force

6. a. At or before the effective time, the entire fair market value of the health service corporation, exclusive of any shares of the converted insurer or any parent corporation issued pursuant to subsection e. of this section, shall be transferred to the foundation, without consideration, in a manner and form acceptable to the commissioner. In determining fair market value, consideration shall be given to value as a going concern, market value, investment or earnings value, net asset value and a control premium, if any. b. If the foundation receives, at the effective time, 100 percent of the shares of the outstanding capital stock of the converted insurer or any parent corporation freely transferable and without restriction, the foundation is presumed to have acquired the entire fair market value of the health service corporation and no appraisal shall be required under subsection c. of section 3 of this act, unless the commissioner finds that the proposed capital structure of the converted insurer does not represent the fair market value of the health service corporation. c. (1) If the foundation receives, at the effective time, 100 percent of shares of the outstanding capital stock of the converted insurer or any parent corporation and the shares are subject to restrictions the commissioner determines are necessary and reasonable to maintain the value of the assets of the converted insurer, the foundation is presumed to have acquired the entire fair market value of the health service corporation and, subject to paragraph (2) of this subsection, no appraisal shall be required under subsection c. of section 3 of this act, unless the commissioner finds that the proposed capital structure of the converted insurer does not represent the fair market value of the health service corporation. (2) In determining whether the restrictions are necessary and reasonable, the commissioner may require an appraisal of the diminution in value of the shares as a result of the restrictions, which appraisal shall take into consideration the increase in value of the shares on account of any registration rights granted to the foundation in connection with the shares of capital stock of the converted insurer or parent corporation. d. If the foundation receives consideration in a form other than as described in subsections b. and c. of this section, the plan of conversion shall include an appraisal of the fair market value of the health service corporation that satisfies the requirements of subsection c. of section 3 of this act. e. This section does not prohibit the inclusion in the plan of conversion of provisions under which the converted insurer would make a simultaneous offering of shares of its authorized but unissued capital stock for cash to either (1) the public, or (2) its directors, officers and employees as a group, or both, in each case under terms and conditions and pursuant to valuation procedures the commissioner approves and that do not materially dilute the value of the shares distributed to the foundation. In no event may in excess of five percent of the aggregate shares of capital stock to be issued by the converted insurer pursuant to the plan of conversion be offered for purchase by the directors, officers and employees, in the aggregate, of the health service corporation and the shares shall be offered only on terms generally available to the public. L.2001,c.131,s.6.
N.J. Stat. § 17:29AA-26 — NJ Code / Title 17 / Chapter 29AA / Section 29AA-26
Penalties; notice; hearing; suspension of licenses; certificate
Status: in_force

In addition to any other penalty or forfeiture provided by law, the commissioner may, if he finds that any person, partnership, association, corporation, insurer, or rating organization has willfully violated any provision of this act, impose a penalty of not less than $25.00 nor more than $500.00 for each violation. No such penalty shall be imposed, except upon at least 10 days' written notice to such person, partnership, association, corporation, insurer, or rating organization, specifying the specific violation, and naming a date and place for a hearing on the violation so charged. If the commissioner shall find, upon the evidence placed before him at the hearing, that the person, partnership, association, corporation, insurer, or rating organization is guilty of any violation of the provisions of this act, he shall make an order briefly stating his findings, and specifying the penalty imposed. The imposition of such a penalty shall, in the case of a licensed broker, or agent, or in the case of a rating organization, automatically suspend the license of the broker or agent or rating organization until such time as the penalty shall be paid. The commissioner may file in the office of the Clerk of the Superior Court, a certificate stating the amount of any penalty assessed pursuant to the provisions of this section, and the name of the person, partnership, association, corporation, insurer, or rating organization against whom or which the penalty has been assessed, and thereupon the Clerk of the Superior Court shall enter upon his record of docketed judgments the certificate, or an abstract thereof, and shall duly index the same. From the time of the docketing, the certificate shall have the same effect as a judgment obtained in the Superior Court, Law Division, and the commissioner shall have all remedies and may take all the proceedings for the collection thereof which may be had or taken upon the recovery of such a judgment. L.1982, c. 114, s. 26.
N.J. Stat. § 17:50-1 — NJ Code / Title 17 / Chapter 50 / Section 50-1
Exchange of contracts authorized; law exclusive
Status: in_force

Individuals, partnerships, trustees and all corporations of this State, herein designated "subscribers," are hereby authorized to exchange reciprocal or interinsurance contracts with each other and with individuals, partnerships, trustees and corporations of other States, districts, provinces and countries, for any or all of the kinds of business for which a company may be formed or authorized to transact under the provisions of chapter seventeen of Title 17 of the Revised Statutes, except life insurance. Such contracts and the exchange thereof and such subscribers, their attorneys in fact and representatives shall be regulated by this act, and by no other statute of this State relating to insurance, except as herein otherwise provided. L.1945, c. 161, p. 554, s. 1.
N.J. Stat. § 17B:19-2.1 — NJ Code / Title 17B / Chapter 19 / Section 19-2.1
Annual valuation of reserve liabilities.
Status: in_force

60. The commissioner shall annually value, or cause to be valued, the reserve liabilities (hereinafter called reserves) for all outstanding life insurance contracts, annuity and pure endowment contracts, accident and health contracts, and deposit-type contracts of every company issued on or after the operative date of the valuation manual. In lieu of the valuation of the reserves required of a foreign or alien company, the commissioner may accept a valuation made, or caused to be made, by the insurance supervisory official of any State or other jurisdiction when the valuation complies with the minimum standard provided in sections 58, 60, 63, 64, 65 and 66 of P.L.2014, c.81 (C.17B:19-1.1, C.17B:19-2.1, C.17B:19-11, C.17B:19-12, C.17B:19-13 and C.17B:19-14). The provisions set forth in sections 63 and 64 of P.L.2014, c.81 (C.17B:19-11 and C.17B:19-12) shall apply to all policies and contracts issued on or after the operative date of the valuation manual. L.2014, c.81, s.60.
N.J. Stat. § 17:33B-43 — NJ Code / Title 17 / Chapter 33B / Section 33B-43
Structured settlement
Status: in_force

If an insurer, the New Jersey Automobile Full Insurance Underwriting Association, the trustee appointed pursuant to section 21 of this 1990 amendatory and supplementary act, the Market Transition Facility created pursuant to section 88 of this act or any insurer or other entity insuring risks under a plan providing private passenger automobile insurance pursuant to section 1 of P.L.1970, c.215 (C.17:29D-1), offers a lump sum settlement of more than $10,000 to a claimant covered for bodily injury liability under a private passenger automobile liability insurance policy, the insurer, the association, the facility or the other entity may, at the same time, offer a structured settlement for that claim to the claimant or his attorney. If the claimant's attorney receives an offer of structured settlement pursuant to this section, he shall present it to the claimant. L.1990,c.8,s.52.
N.J. Stat. § 17B:18-29 — NJ Code / Title 17B / Chapter 18 / Section 18-29
Election of directors in mutual insurer issuing temporary stock
Status: in_force

A bare majority of the entire board of directors of a domestic mutual insurer which issues temporary capital stock, as provided in section 17B:18-9, shall be elected by the holders of the temporary stock, and the rest of the directors shall be elected by the policyholders, in the manner and with the representation provided in its certificate of incorporation. After the retirement of the capital stock all the directors shall be so elected by the policyholders. L.1971, c. 144, s. 17B:18-29.
N.J. Stat. § 17:29A-37 — NJ Code / Title 17 / Chapter 29A / Section 29A-37
Taxes, licenses, fees and expenses; application on a flat and uniform fee basis per insured automobile statewide; regulation regarding calculation and collection of taxes
Status: in_force

a. Every filer making automobile rates in this State shall apply on a flat and uniform fee basis per insured automobile Statewide those miscellaneous taxes, licenses, and fees, as defined in the most recent rate filing of an automobile filer, and at least 90% of its general expenses and acquisition, field supervision, and collection expenses, excluding commissions, as such expenses are defined in the filer's most recent rate filing with the commissioner. b. The commissioner and the State Treasurer shall issue a regulation no later than 90 days after the effective date of this act to require automobile filers to calculate and collect taxes for their insureds paid pursuant to P.L. 1945, c. 132 (C. 54:18A-1 et seq.) and any assessments to be made pursuant to sections 4, 6 and 7 of P.L. 1952, c. 174 (C. 39:6-64, 39:6-66 and 39:6-67), exclusive of assessments made to reimburse a filer for medical benefits payable under section 4 of P.L. 1972, c. 70 (C. 39:6A-4) in excess of $75,000.00, on a flat and uniform fee basis per insured automobile Statewide, which shall take effect on January 1, 1984. L.1983, c. 65, s. 8, eff. Jan. 1, 1983.
N.J. Stat. § 17:29C-4.1 — NJ Code / Title 17 / Chapter 29C / Section 29C-4.1
Return of unearned premiums; penalty
Status: in_force

1. Whenever an insurance policy or contract is canceled, the insurer on notice thereof shall return to the insured, within a reasonable time not to exceed 60 days of cancellation or notice, whichever occurs last, or 60 days after the completion of any payroll audit necessary to determine the amount of premium earned while the policy was in force, on a short rate basis the amount of gross unearned premiums paid; except for a policy or contract for private passenger automobile insurance, which amount of gross unearned premium shall be determined on a pro rata basis. In the event that the insurer fails to return the gross unearned premiums to the insured within the period provided for herein, the insurer shall, as a penalty, in addition to the gross unearned premium, return to the insured an additional amount equal to 5% of the gross unearned premium computed on a monthly basis for each month or part thereof past the final date on which the refund was due. L.1973, c.252, s.1; amended 1979, c.299, s.2; 1999,c.344.
N.J. Stat. § 17:14A-27 — NJ Code / Title 17 / Chapter 14A / Section 14A-27
Bonding of directors, officers and employees
Status: in_force

Every safe deposit company shall, at its own expense, cause to be bonded, by a surety company or companies authorized to transact business in New Jersey, each director, all officers and employees of the company in an amount as shall be approved by the board of directors. The bonds may be individual bonds or may be one or more blanket bonds. The board of directors shall annually examine all the bonds, shall pass upon their sufficiency and may require a new bond or bonds or increases in the amounts thereof. The commissioner may from time to time order an increase in the amounts of the bonds. A bond shall not be deemed to comply with this section unless the bond contains a provision that it shall not be cancellable for any cause unless notice of intention to cancel is filed in the office of the commissioner at least five days before the day upon which cancellation is to take effect. L.1983, c. 566, s. 17:14A-27.
N.J. Stat. § 17:46B-18 — NJ Code / Title 17 / Chapter 46B / Section 46B-18
Reserve for unpaid losses and loss expense
Status: in_force

a. Each domestic title insurance company shall at all times establish and maintain, in addition to other reserves, a reserve: (1) Against unpaid losses, and (2) against loss expense, and shall calculate such reserves by making a careful estimate in each case of the loss and loss expense likely to be incurred, by reason of every claim presented, pursuant to notice from or on behalf of the insured, of a title defect in or lien or adverse claim against the title insured, that may result in a loss or cause expense to be incurred for the proper disposition of the claim. The sums of the items so estimated shall be the total amounts of the reserves against unpaid losses and loss expenses of such title insurance company. b. The amounts so estimated may be revised from time to time as circumstances warrant, but shall be redetermined at least once each year. c. The amounts set aside in such reserves in any year shall be deducted in determining the net profits for such year of any title insurance company. L.1975, c. 106, s. 18, eff. May 29, 1975.
N.J. Stat. § 17:29A-54 — NJ Code / Title 17 / Chapter 29A / Section 29A-54
Short title.
Status: in_force

1. Sections 1 through 9 of this act shall be known and may be cited as the "Certificates of Insurance Act." L.2015, c.195, s.1.
N.J. Stat. § 17:11D-5 — NJ Code / Title 17 / Chapter 11D / Section 11D-5
Additional penalties.
Status: in_force

5. In addition to any sanctions provided by N.J.S.2C:21-19, R.S.31:1-1 et seq., or any other provision of law, a tax preparer who violates any provision of this act shall be liable to a civil administrative penalty not exceeding $1,000 for each violation, to 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.). L.2007, c.258, s.5.
N.J. Stat. § 17:48E-68 — NJ Code / Title 17 / Chapter 48E / Section 48E-68
Foundations; board, membership.
Status: in_force

20. a. (Deleted by amendment, P.L.2013, c.253) b. The foundation created pursuant to section 19 of P.L.2001, c.131 (C.17:48E-67) shall have a board of directors consisting of 15 members. Seven members shall be appointed by the Governor, including two public members, one physician licensed to practice medicine in New Jersey, one licensed health care provider other than a physician, one representative of the dental community, one representative of a community based organization that provides or assists in providing health care or health care services to New Jersey residents and one representative of the AFL-CIO. Three members shall be appointed by the President of the Senate, including one public member, one representative of the hospital community and one physician licensed to practice medicine in New Jersey. One public member shall be appointed by the Minority Leader of the Senate. Three members shall be appointed by the Speaker of the General Assembly, including one public member, one representative of the hospital community and one representative of a community based organization that provides or assists in providing health care or health care services to New Jersey residents. One public member shall be appointed by the Minority Leader of the General Assembly. The members of the board of the foundation shall be appointed for a term of three years. Each member shall hold office until reappointed or a successor is appointed and qualified. A vacancy in the membership of the board shall be filled for an unexpired term in the same manner provided for the original appointment. Members shall serve without fee or compensation. The foundation shall commence its activities upon the appointment of at least a majority of its initial board of directors. In the event more than one foundation is established pursuant to P.L.2001, c.131 (C.17:48E-49 et seq.), the board of directors of any such additional foundations shall be appointed in compliance with the requirements of this subsection. L.2001, c.131, s.20; amended 2001, c.387; 2013, c.253, s.2.
N.J. Stat. § 17:9A-302 — NJ Code / Title 17 / Chapter 9A / Section 9A-302
Liability of commissioner
Status: in_force

The commissioner shall not be subject to any civil liability or penalty nor to any criminal prosecution for any error in judgment or discretion in any action taken or omitted by him in good faith under the provisions of this article. L.1948,c.67,s.302.
N.J. Stat. § 17B:27-46.1c — NJ Code / Title 17B / Chapter 27 / Section 27-46.1c
Benefits for purchase of blood products, infusion equipment
Status: in_force

Every group health insurance policy providing hospital expense benefits to any policy holder or other person covered thereunder for expenses incurred in connection with the treatment of routine bleeding episodes associated with hemophilia shall provide benefits for expenses incurred in connection with the purchase of blood products and blood infusion equipment required for home treatment of routine bleeding episodes associated with hemophilia when the home treatment program is under the supervision of a State approved hemophilia treatment center. The benefits shall be provided to the same extent as for any sickness under the policy. As used in this act, "blood product" includes, but is not limited to, Factor VIII, Factor IX and cryoprecipitate; and "blood infusion equipment" includes, but is not limited to, syringes and needles. Participation in a home treatment program shall not preclude further or additional treatment or care at any eligible facility if the number of home treatments, in accordance with a ratio of home treatments to benefit days established by regulation by the Commissioner of Insurance, does not exceed the total number of benefit days provided for any other sickness under the policy. L. 1987, c. 63, s. 1.
N.J. Stat. § 17:33A-10 — NJ Code / Title 17 / Chapter 33A / Section 33A-10
Subpena powers; violations by persons licensed by State.
Status: in_force

10. a. If the bureau has reason to believe that a person has engaged in, or is engaging in, an act or practice which violates this act, or any other relevant statute or regulation, the commissioner or his designee, after consulting with the Insurance Fraud Prosecutor or his designee, may administer oaths and affirmations, request or compel the attendance of witnesses or the production of documents. The commissioner, after consulting with the Insurance Fraud Prosecutor or his designee, may issue, or designate another to issue, subpenas to compel the attendance of witnesses and the production of books, records, accounts, papers and documents. Witnesses who are not licensees of the Department of Banking and Insurance shall be entitled to receive the same fees and mileage as persons summoned to testify in the courts of the State. If a person subpenaed pursuant to this section shall neglect or refuse to obey the command of the subpena, a judge of the Superior Court may, on proof by affidavit of service of the subpena, of payment or tender of the fees required and of refusal or neglect by the person to obey the command of the subpena, issue a warrant for the arrest of said person to bring him before the judge, who is authorized to proceed against the person as for a contempt of court. b. If matter that the bureau or Office of the Insurance Fraud Prosecutor seeks to obtain by request is located outside the State, the person so required may make it available to the bureau or office, as the case may be, or its representative to examine the matter at the place where it is located. The bureau or office may designate representatives, including officials of the state in which the matter is located, to inspect the matter on its behalf, and it may respond to similar requests from officials of other states. c. If (1) a practitioner, (2) an owner, administrator or employee of any hospital, (3) an insurance company, agent, broker, solicitor or adjuster, or (4) any other person licensed by a licensing authority of this State, or an agent, representative or employee of any of them is found to have violated any provision of this act, the commissioner or the Attorney General shall notify the appropriate licensing authority of the violation so that the licensing authority may take appropriate administrative action. The licensing authority shall report quarterly to the commissioner through the Bureau of Fraud Deterrence about the status of all pending referrals. L.1983,c .320, s.10; amended 1997, c.151, s.6; 2010, c.32, s.5.
N.J. Stat. § 17:46C-5 — NJ Code / Title 17 / Chapter 46C / Section 46C-5
Conditions for issuance; order stating person provides legal insurance
Status: in_force

a. A certificate of authority shall be issued if the commissioner is satisfied that the following conditions are met: (1) The persons responsible for the conduct of the affairs of the applicant are competent, trustworthy, and of good reputation; (2) The applicant demonstrates the willingness and ability to assure that the promised benefits can be provided. In making this determination the commissioner shall consider so far as applicable: (a) The adequacy of capital and surplus considered in relation to the other items in subsection a. (2) of this section; (b) The financial soundness of the applicant's arrangements for legal services and the rating system proposed to be used in connection therewith; (c) Any agreement with another person authorized to do business under this act, an insurer licensed under the general insurance law to do business in this State, a reinsurer eligible under the laws or regulations of this State to provide reinsurance, or an agency of the Federal or State Government for insuring the payment of the cost of legal services or the provision for automatic applicability of an alternative coverage in the event the insurer is unable to perform its obligations; (d) Any surety bond or deposit of cash or securities as a guarantee that the obligation will be duly performed; and (e) If the applicant is licensed as an insurer under insurance laws of other states, whether the applicant has complied with the requirements of those laws. b. At the request of an applicant, the commissioner shall issue an order stating whether a person is providing legal insurance as defined in section 3c. of this act. L.1981, c. 160, s. 5.
N.J. Stat. § 17:33A-27 — NJ Code / Title 17 / Chapter 33A / Section 33A-27
Specific goals, strategies.
Status: in_force

43. The Insurance Fraud Prosecutor shall have access to all information concerning insurance fraud enforcement activities in the possession of all State departments and agencies. The office shall meet on a regular basis with representatives of State departments and agencies and county prosecutors to set specific goals and strategies for the most effective resolution of insurance fraud cases, whether by criminal, civil, or administrative enforcement action, or a combination thereof. L.1998,c.21,s.43.
N.J. Stat. § 17:27A-14 — NJ Code / Title 17 / Chapter 27A / Section 27A-14
Separability of provisions
Status: in_force

If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and for this purpose the provisions of this chapter are separable. L.1970, c. 22, s. 14, eff. April 3, 1970.
N.J. Stat. § 17B:32B-15 — NJ Code / Title 17B / Chapter 32B / Section 32B-15
Condition for receipt by providers of payments.
Status: in_force

15. As a condition of receiving payment directly from the association for an eligible claim against an insolvent organization, a provider shall agree to forgive that organization of one-third of the unpaid contractual obligation incurred prior to insolvency, which would otherwise be paid by the organization had it not been insolvent. The foregoing shall not apply to any portion of an eligible claim owed to a provider by another insurer, health maintenance organization, or other payer through a coordination of benefits provision. The association is not bound by an assignment of benefits executed with respect to the coverage provided by the insolvent organization. The association may aggregate all eligible claims owed providers when negotiating direct payment of eligible claims of all covered individuals. Nothing in this act shall be construed to preclude any provider from collecting moneys owing to the provider from a self-insured benefit plan that contracted with an insolvent organization to pay claims on an administrative services only basis. L.2000,c.12,s.15.
N.J. Stat. § 17:16F-8 — NJ Code / Title 17 / Chapter 16F / Section 16F-8
Investigations; power of commissioner; subpenas and orders to testify; enforcement
Status: in_force

The commissioner of banking shall have the power to make such investigations into any matter pertaining to this act as he shall deem necessary, including the power to hold hearings, issue subpenas to compel the attendance of witnesses and the production of documents, papers, books, records, and other evidence before him. In case of a failure of any person to comply with any subpena issued by the commissioner or to testify to any matter concerning which he may be lawfully interrogated, the Superior Court, on application of the commissioner, may issue an order requiring the attendance of such person and the giving of testimony or production of evidence. Any person failing to obey the court's order may be punished for contempt. L.1977, c. 1, s. 8.
N.J. Stat. § 17B:27A-58 — NJ Code / Title 17B / Chapter 27A / Section 27A-58
Authority to operate a State-based exchange, coordinate operations with other entities; advisory committee.
Status: in_force

2. a. Notwithstanding any other law to the contrary, the Department of Banking and Insurance shall have the authority to operate a State-based exchange and coordinate the operations of the exchange with the operations of the New Jersey Individual Health Coverage Program and the New Jersey Small Employer Health Benefits Program, including reorganization of the boards, as the commissioner deems appropriate. The department's authority to regulate the insurance market shall be separate and distinct from the department's duty to oversee exchange operations, to ensure the best interests of and protection for consumers of the State. The commissioner may require that all plans in the individual and small employer markets be made available for comparison on the State-based exchange, but nothing in this section shall allow the commissioner to require all plans in the individual and small employer markets to be purchased exclusively on the State-based exchange. The department shall coordinate the operations of the exchange with the operations of the State Medicaid program established pursuant to P.L.1968, c.413 (C.30:4D-1 et seq.) and the NJ FamilyCare Program established pursuant to P.L.2005, c.156 (C.30:4J-8 et al.) to determine eligibility for those programs as soon as practicable. b. The Commissioner of Human Services, in consultation with the Commissioner of Banking and Insurance, shall submit a proposal for available federal financial participation funds to the Centers for Medicare & Medicaid Services of the U.S. Department of Health and Human Services pursuant to 42 C.F.R. 433.112 for the Medicaid eligibility platform and the exchange to be integrated. Notwithstanding the foregoing, the Department of Banking and Insurance may proceed to implement the provisions of this act, including the operation of the State-based exchange. c. The Commissioner of Banking and Insurance shall have the authority to require that plans offered on the exchange conform with standardized plan designs that provide for standardized cost-sharing for covered health services. d. The Commissioner of Banking and Insurance shall establish an advisory committee to provide advice to the commissioner concerning the operation of the exchange and the implementation of the New Jersey Easy Enrollment Health Insurance Program established pursuant to P.L.2022, c.39 (C.17B:27A-59.1 et al.). The advisory committee shall include at least nine members, as follows: (1) The Commissioner of Banking and Insurance, or a designee, who shall serve ex-officio; (2) The Commissioner of Human Services, or a designee, who shall serve ex-officio; (3) the Commissioner of Health, or a designee, who shall serve ex-officio; and (4) six public members, who shall be residents of the State, appointed by the Commissioner of Banking and Insurance. Each public member shall have demonstrated experience in one or more of the following areas: health insurance consumer advocacy; individual health insurance coverage; small employer health insurance coverage; health benefits plan marketing; the provision of health care services; or academic or professional research relating to health insurance. L.2019, c.141, s.2; amended 2022, c.39, s.9.
N.J. Stat. § 17:16G-6 — NJ Code / Title 17 / Chapter 16G / Section 16G-6
Debt adjustment fee
Status: in_force

a. A licensee may charge a fee to cover the cost of providing debt adjustment and credit counseling. b. The fee for debt adjustment shall not exceed 1% of the gross monthly income of the person to whom the service is rendered, but in no case more than $15.00 in any one month, except as may be otherwise provided by rule or regulation promulgated by the commissioner. This fee may be waived in the discretion of the licensee. c. The commissioner is authorized to establish the maximum fee that may be charged for credit counseling. L. 1979, c. 16, s. 6, eff. Feb. 8, 1979. Amended by L. 1986, c. 184, s. 4, eff. Dec. 10, 1986.
N.J. Stat. § 17:30C-17 — NJ Code / Title 17 / Chapter 30C / Section 30C-17
Deputies and assistants
Status: in_force

In connection with delinquency proceedings, the commissioner may appoint one or more special deputy commissioners to act for him, and may employ such counsel, clerks, and assistants as he deems necessary. The compensation of the special deputies, counsel, clerks, or assistants, and all expenses of taking possession of the insurer and of conducting the proceedings, shall be fixed by the receiver subject to the approval of the court, and shall be paid out of funds or assets of the insurer. Within the limits of the duties imposed upon them, special deputies shall possess all the powers given to, and, in the exercise of those powers, shall be subject to all of the duties imposed upon the receiver with respect to such proceedings. L.1975, c. 113, s. 17, eff. June 3, 1975.
N.J. Stat. § 17:48A-6.4 — NJ Code / Title 17 / Chapter 48A / Section 48A-6.4
Third surgical opinion
Status: in_force

If a second surgical opinion does not confirm that the proposed elective surgical procedure is medically advisable, the program shall cover a third surgical opinion in the same manner as the second opinion. L.1979, c. 327, s. 4.
N.J. Stat. § 17:12B-135 — NJ Code / Title 17 / Chapter 12B / Section 12B-135
Cancellation of withdrawal application
Status: in_force

Any withdrawal application may be canceled, in whole or in part, at the written request of the withdrawing member, with the consent of the State association, upon such reasonable terms as such State association may impose. L.1963, c. 144, s. 135.
N.J. Stat. § 17:15C-10 — NJ Code / Title 17 / Chapter 15C / Section 15C-10
Keeping of records required.
Status: in_force

10. a. Each licensee, shall make, keep and preserve the following books, accounts and other records for a period of three years: (1) a record of each payment instrument sold; (2) a general ledger containing all assets, liabilities, capital, income and expense accounts (which general ledger shall be posted at least monthly); (3) settlement sheets received from authorized delegates; (4) bank statements and bank reconciliation records; (5) records of outstanding payment instruments; (6) records of each payment instrument paid within the three-year period; (7) a list of names and addresses of all of the licensee's authorized delegates; (8) a list of all countries to which money is transmitted or from which money is received for transmission; (9) a list of the names and addresses of all clearing banks through which the licensee's money transmission business is conducted; and (10) such other books and records as the commissioner may require by regulation. b. Maintenance of the documents required by this section in a photographic, electronic or other similar form shall constitute compliance with this section. c. Each licensee shall maintain the records it is required to maintain pursuant to 31 C.F.R. s.103.11 et seq. d. The records of the licensee regarding business regulated under this act shall be maintained at its principal place of business or, with notice to the commissioner, at another location designated by the licensee. If the records are maintained outside this State, the commissioner may require that the licensee reimburse the department for the travel costs incurred in the examination or investigation of those records or may require that the licensee make those records available to the commissioner at the commissioner's office not more than seven business days after demand. The commissioner may further require that those records be accompanied by an individual who will be available to answer questions regarding those records and the business regulated under this act. The commissioner may require the appearance of a specific individual, or request that the licensee designate an individual with knowledge of the records and the business. L.1998,c.14,s.10.
N.J. Stat. § 17:13-118 — NJ Code / Title 17 / Chapter 13 / Section 13-118
Continuation of business by commissioner; authority and powers
Status: in_force

Upon taking possession of the property and business of a credit union, the commissioner may, pending the return of its property and business to the management of its board or the order or judgment of the Superior Court in an action instituted under sections 37 and 38 of this act or its dissolution as herein provided, continue the operation of the business of the credit union. For that purpose, the commissioner shall have and may exercise every authority and power theretofore conferred by law, by the provisions of its certificate of incorporation and by its bylaws upon its board and committees and upon all and any of its officers, directors and committee members. However, this section shall not be construed to deprive any credit union at any time of title to its property, and all transfers and conveyances of property to the credit union during the commissioner's possession thereof shall be made in its name and all transfers and conveyances of property from the credit union shall be made in the name of the credit union, under its seal or otherwise as the circumstances may require, by the commissioner. Any act or thing done by the credit union, during the commissioner's possession as aforesaid, over the signature of or by order of the commissioner shall be construed to be the act of the credit union and shall be valid and effectual in law if the statutes of this State, the certificate of incorporation of the credit union or its bylaws shall have authorized its board, committees, any director thereof, any committee member thereof or any officer thereof to do or perform any act. The commissioner shall not be obligated to carry on the business of the credit union in possession unless he deems it proper and expedient so to do but may, during his possession thereof, conserve its assets until a time as he shall determine it expedient and proper to continue the business or until otherwise directed by the Superior Court in an action instituted pursuant to sections 39 and 40 of this act or until its dissolution. L.1984, c. 171, s. 40, eff. Oct. 31, 1984.
N.J. Stat. § 17:9A-303 — NJ Code / Title 17 / Chapter 9A / Section 9A-303
Refusal or failure of commissioner to take possession; jurisdiction of the Superior Court; appointment of receiver
Status: in_force

A. When a bank is insolvent or has suspended its business for lack of funds to carry it on, a creditor or stockholder may serve a written demand upon the commissioner that he take possession of the property and business of the bank. If, after the lapse of twenty days from the day upon which the demand is served upon him, the commissioner shall have failed to take possession as in this article provided, the Attorney-General, or any creditor or stockholder of the bank may apply to the Superior Court in an action for injunctive relief and the appointment of a receiver or receivers in the manner provided by chapter fourteen of Title 14 of the Revised Statutes, and thereafter, so long as such action is pending in the Superior Court, the powers of the court and of any receivers appointed by it, and the rights and remedies of creditors and stockholders shall be as prescribed in chapter fourteen of Title 14 of the Revised Statutes. The court may proceed in the action in a summary manner or otherwise. B. No receiver shall be appointed by the Superior Court to exercise the powers prescribed in chapter fourteen of Title 14 of the Revised Statutes unless (1) the bank is insolvent or has suspended its business for lack of funds to carry it on; (2) demand has been served upon the commissioner, as provided by subsection A of this section; (3) the commissioner has failed to take possession within the time limited by subsection A of this section; and (4) the commissioner has been made a party to the action in the Superior Court and has been served with a copy of the complaint and notice of the time and place of application for the appointment of a receiver not less than ten days prior to the application for the appointment of a receiver. L.1948,c.67,s.303; amended 1953,c.17,s.52.
N.J. Stat. § 17:48-6.12 — NJ Code / Title 17 / Chapter 48 / Section 48-6.12
Inapplicability of act if insurer not have right to terminate contract or certificate without consent of insured
Status: in_force

The provisions of this act shall not apply to any contract or individual group certificate in which the insurer does not have the right to terminate the contract or individual group certificate without the consent of the insured. L.1981, c. 455, s. 3.
N.J. Stat. § 17:9A-264 — NJ Code / Title 17 / Chapter 9A / Section 9A-264
Examinations confidential; subpoenas
Status: in_force

Every report and copy of a report of examination of a bank or out-of-State bank made by or under the supervision of the commissioner, and every report and copy thereof made by a bank or out-of-State bank pursuant to subsection C of section 256 of P.L.1948, c.67 (C.17:9A-256) shall be confidential, and shall not be made public by any officer, director or employee of a bank, and shall not be subject to subpoena or to admission into evidence in any action or proceeding in any court, except pursuant to an order of the court made upon notice to the commissioner and after affording the commissioner an opportunity to advise the court of reasons for excluding from evidence such report or any portion thereof. The court shall order the issuance of a subpoena for the production or admission into evidence of any such report or portion thereof, only if it is satisfied that (1) it is material and relevant to the issues in the proceedings, and (2) the ends of justice and public advantage will be subserved thereby. This section shall not prohibit the commissioner from sharing a report of examination with another state or federal regulator so long as provision is made for retaining the confidentiality of the report. This section shall not apply to any action or proceeding instituted by the commissioner or Attorney General pursuant to any law of this State. L.1948, c. 67, s.264; amended 1996,c.17, s.21.
N.J. Stat. § 17:14A-71.1 — NJ Code / Title 17 / Chapter 14A / Section 14A-71.1
Examinations confidential
Status: in_force

Every report and copy of a report of examination of a safe deposit company made by or under the supervision of the commissioner shall be confidential and shall not be made public by any officer, director or employee of a safe deposit company. L.1983, c. 566, s. 17:14A-71.1.
N.J. Stat. § 17:48C-8.3 — NJ Code / Title 17 / Chapter 48C / Section 48C-8.3
Payment of out-of-network benefits by dental service corporation.
Status: in_force

1. a. (1) Except as provided in subsection e. of this section, a dental service corporation that makes a dental benefit payment to a covered person for services rendered by an out-of-network dentist shall issue the payment to the covered person in accordance with the time frames set forth in section 8 of P.L.1999, c.154 (C.17:48C-8.1), and shall, within three days of issuing the payment, provide a notification to the out-of-network dentist of the amount and date of the payment and the services for which the payment was made. (2) In the case of a dental service corporation that supplies an administrative services only contract and makes a dental benefit payment to a covered person for services rendered by an out-of-network dentist under that contract, paragraph (1) of this subsection shall not apply, but the dental service corporation shall, within three days of issuing the payment, provide a notification to the out-of-network dentist of the amount and date of the payment. b. A covered person may enter into an agreement with an out-of-network dentist to sign over the dental benefit payment received from the dental service corporation to the dentist. The agreement shall: (1) be in writing; (2) be signed by the person who is entitled to receive the dental benefit payment from the dental service corporation; (3) be retained by the dentist for at least six years following the date of the most recent payment from the covered person; and (4) give the covered person at least 10 business days within which to sign over the dental benefit to the dentist. c. A covered person who agrees to sign over a dental benefit payment in accordance with this section shall comply with the terms of the agreement; except that, if the covered person owes the out-of-network dentist less than the amount of the dental benefit payment, the covered person shall pay the dentist the balance owed to the dentist. d. A covered person who fails to sign over the dental benefit payment in accordance with subsections b. and c. of this section shall be liable to the out-of-network dentist for payment of attorney fees and costs reasonably incurred by the dentist in enforcing the agreement established pursuant to those subsections. e. (1) With respect to a dental service corporation that makes a dental benefit payment to a covered person for services rendered by an out-of-network dentist, if the covered person assigns, through an assignment of benefits, his right to receive reimbursement to an out-of-network dentist, the dental service corporation shall issue the payment for the reimbursement directly to the dentist in the form of a check payable to the dentist, or in the alternative, to the dentist and the covered person as joint payees, with a signature line for each of the payees. Payment shall be made in accordance with section 8 of P.L.1999, c.154 (C.17:48C-8.1). Any payment made only to the covered person rather than the dentist while such an assignment of benefits is in effect shall be considered unpaid, and unless issued to the dentist within the time frames established by section 8 of P.L.1999, c.154 (C.17:48C-8.1), shall be considered overdue and subject to interest charges as provided in that section. (2) Nothing in this subsection shall be construed to apply to a dental service corporation that supplies a self-funded dental services plan or an administrative services only contract for a self-funded dental services plan, when making a dental benefit payment to a covered person for services rendered by an out-of-network dentist under that plan or contract. L.2003, c.250, s.1; amended 2013, c.83, s.1.
N.J. Stat. § 17:3B-16 — NJ Code / Title 17 / Chapter 3B / Section 3B-16
Extension of closed end credit
Status: in_force

Extension of closed end credit. A lender may, subject to the provisions of this act, offer and extend closed end credit in amounts, at rates of interest, and for a term of payment, and may take security, including personal property or real property, as collateral for the loan made in connection therewith, as may be agreed to by the lender and borrower, and as set forth in the note or loan agreement. L. 1985, c. 81, s. 13, eff. March 14, 1985.
N.J. Stat. § 17:48G-3 — NJ Code / Title 17 / Chapter 48G / Section 48G-3
Dental decisions made by third party administrator.
Status: in_force

3. a. A third party administrator may make dental decisions in connection with the processing or payment of dental claims or otherwise in the course of its dental benefit administration activity. Dental decisions made by a third party administrator shall be consistent with all of the following: (1) an initial adverse dental decision shall be made by a dentist duly licensed in this or another state; (2) if a treating dentist questions the adverse dental decision and specifies in writing the basis of the disagreement with the adverse dental decision, the third party administrator within 30 days shall: (a) designate a reviewing dentist who is duly licensed in this State or who has been issued a limited registration certificate pursuant to section 4 of this act; and (b) notify the treating dentist in writing promptly of the name and business address where the reviewing dentist can be contacted and telephone number which can be used to contact the reviewing dentist; (3) if an agreement is not reached within a reasonable period of time, not to exceed 30 days from the third party administrator's notice issued pursuant to subparagraph (b) of paragraph (2) of this subsection, the third party administrator shall make its decision and communicate the results of the reviewing dentist's dental decision to the treating dentist. b. Within 14 days of a written request by the treating dentist, or the patient or the patient's authorized representative, for the basis of an adverse dental decision by a reviewing dentist, provided to the treating dentist pursuant to paragraph (3) of subsection a. of this section, the third party administrator shall send a written notice containing the full name, address and telephone number of the reviewing dentist and a narrative statement specifically identifying the basis for the decision. L.2007, c.259, s.3.
N.J. Stat. § 17B:27E-6 — NJ Code / Title 17B / Chapter 27E / Section 27E-6
Prohibitions relative to long-term care insurance.
Status: in_force

6. a. No long-term care insurance policy or certificate shall: (1) Be cancelled, nonrenewed or otherwise terminated on the grounds of the age or the deterioration of the mental or physical health of the insured individual or certificate holder; (2) Contain a provision establishing a new waiting period in the event existing coverage is converted to or replaced by a new or other form within the same company or affiliated company, except with respect to an increase in benefits voluntarily selected by the insured individual or group policyholder; (3) Provide coverage for skilled nursing care only or provide significantly more coverage for skilled nursing care in a facility than coverage for lower levels of care; or (4) Decline or limit coverage based solely on the status of the insured individual as a living organ donor; preclude an insured person from donating all or part of an organ as a condition of continuing to receive coverage; consider the status of a person as a living organ donor in determining the premium rate for coverage of the person under a policy of life or health insurance, provided that this shall not preclude consideration of other actuarial risks in determining premium rates for coverage; or otherwise discriminate in the offering, issuance, cancellation, amount of coverage, price, or other condition of coverage for an individual based solely, and without any additional actuarial risks, on the status of the person as a living organ donor. b. (1) No long-term care insurance policy or certificate shall use a definition of "preexisting condition" which is more restrictive than the following: preexisting condition means a condition for which medical advice or treatment was recommended by, or received from a provider of health care services, within six months preceding the effective date of coverage of an insured person. (2) No long-term care insurance policy or certificate shall exclude coverage for a loss or confinement which is the result of a preexisting condition unless that loss or confinement begins within six months following the effective date of coverage of an insured person. (3) The definition of "preexisting condition" shall not prohibit an insurer from using an application form designed to elicit the complete health history of an applicant, and, on the basis of the answers on that application, from underwriting in accordance with that insurer's established underwriting standards. Unless otherwise provided in the policy or certificate, a preexisting condition, regardless of whether it is disclosed on the application, need not be covered until the waiting period described in paragraph (2) of this subsection b. expires. No long-term care insurance policy or certificate shall exclude or use waivers or riders of any kind to exclude, limit or reduce coverage or benefits for specifically named or described preexisting diseases or physical conditions beyond the waiting period described in paragraph (2) of this subsection b. (4) A preexisting condition limitation shall only apply to the long-term care insurance coverage and shall not apply to any death benefit or other life insurance benefit provided by a long-term care insurance policy or certificate. c. (1) No long-term care insurance policy or certificate shall be delivered or issued for delivery in this State if that policy or certificate: (a) Conditions eligibility for any benefits on a prior hospitalization requirement; (b) Conditions eligibility for benefits provided in an institutional care setting on the receipt of a higher level of institutional care; or (c) Conditions eligibility for any benefits, other than waiver of premium, post-confinement, post-acute care or recuperative benefits, on a prior institutionalization requirement. (2) (a) A long-term care insurance policy or certificate containing post-confinement, post-acute care or recuperative benefits shall clearly label in a separate paragraph of the policy or certificate entitled "Limitations or Conditions on Eligibility for Benefits" those limitations or conditions, including any required number of days of confinement. (b) A long-term care insurance policy or certificate which conditions eligibility for non-institutional benefits on the prior receipt of institutional care shall not require a prior institutional stay of more than 30 days. d. Long-term care insurance applicants shall have the right to return the policy or certificate within 30 days of its delivery and to have the premium refunded if, after examination of the policy or certificate, the applicant is not satisfied for any reason. Long-term care insurance policies and certificates shall have a notice prominently printed on the first page or attached thereto stating in substance that the applicant shall have the right to return the policy or certificate within 30 days of its delivery and to have the premium refunded if, after examination of the policy or certificate, the applicant is not satisfied for any reason. e. (1) An outline of coverage shall be delivered to a prospective applicant for long-term care insurance at the time of initial solicitation through means which prominently direct the attention of the recipient to the document and its purpose. (a) The commissioner shall prescribe a standard format, including style, arrangement and overall appearance, and the content of an outline of coverage. (b) In the case of insurance producer solicitations, an insurance producer shall deliver the outline of coverage prior to the presentation of an application or enrollment form. (c) In the case of direct response solicitations, the outline of coverage shall be presented in conjunction with any application or enrollment form. (2) The outline of coverage shall include: (a) A description of the principal benefits and coverage provided in the policy; (b) A statement of the principal exclusions, reductions, and limitations contained in the policy; (c) A statement of the terms under which the policy or certificate, or both, may be continued in force or discontinued, including any reservation in the policy of a right to change premium. Continuation or conversion provisions of group coverage shall be specifically described; (d) A statement that the outline of coverage is a summary only, not a contract of insurance, and that the policy or group master policy contains governing contractual provisions; (e) A description of the terms under which the policy or certificate may be returned and the premium refunded; (f) A brief description of the relationship of cost of care and benefits; and (g) A statement that discloses to the policyholder or certificate holder whether the policy is intended to be a federally tax-qualified long-term care insurance contract under 26 U.S.C. s. 7702B(b). f. A certificate issued pursuant to a group long-term care insurance policy, which policy is delivered or issued for delivery in this State, shall include: (1) A description of the principal benefits and coverage provided in the policy; (2) A statement of the principal exclusions, reductions and limitations contained in the policy; and (3) A statement that the group master policy determines governing contractual provisions. g. At the time of policy delivery, a policy summary as prescribed by the commissioner pursuant to subsection e. of this section shall be delivered for an individual life insurance policy which provides long-term care benefits within the policy or by rider. In the case of direct response solicitations, the insurer shall deliver the policy summary upon the applicant's request, but regardless of request shall make that delivery no later than at the time of policy delivery. In addition to complying with all applicable requirements, the summary shall also include: (1) An explanation of how the long-term care benefit interacts with other components of the policy, including deductions from death benefits; (2) An illustration of the amount of benefits, the length of benefit, and the guaranteed lifetime benefits if any, for each covered person; (3) Any exclusions, reductions and limitations on benefits of long-term care; (4) A statement as to whether any long-term care inflation protection option is available under this policy; (5) If applicable to the policy type, the summary shall also include: (a) A disclosure of the effects of exercising other rights under the policy; (b) A disclosure of guarantees related to long-term care costs of insurance charges; (c) Current and projected maximum lifetime benefits; and (6) The provisions of the policy summary listed above may be incorporated into a basic illustration required to be delivered in accordance with regulations promulgated by the commissioner or into the life insurance policy summary which is required to be delivered in accordance with regulations promulgated by the commissioner. h. Whenever a long-term care benefit, funded through a life insurance policy by the acceleration of the death benefit, is in benefit payment status, a monthly report as specified by the commissioner shall be provided to the policyholder or certificate holder. The report shall include: (1) Any long-term care benefits paid out during the month; (2) An explanation of any changes in the policy, such as death benefits or cash values, due to long-term care benefits being paid out; and (3) The amount of long-term care benefits existing or remaining. L.2003, c.207, s.6; amended 2021, c.72, s.2.
N.J. Stat. § 17:12B-220 — NJ Code / Title 17 / Chapter 12B / Section 12B-220
Powers of insurance corporation
Status: in_force

The Federal Savings and Loan Insurance Corporation shall have all the rights, privileges and powers conferred upon it by the Federal statutes now or hereafter enacted, and may make loans on the security of, or purchase at public or private sale, or at any receiver's sale, and, when purchased, may liquidate or sell, any part of the assets of the State association, and, in the event of the purchase of any of such assets, it shall bid for and pay a fair and reasonable price. Whether or not the Federal Savings and Loan Insurance Corporation shall serve as aforesaid, whenever it shall pay or make available for payment the liabilities of any such insured State association in liquidation which are insured by it, it shall be subrogated upon the surrender and transfer to it of any account insured by it, with respect to such account, but such surrender and transfer of such account shall not affect any right which the transferor thereof may have in any portion of such account which is uninsured or any right to participate in the distribution of the net proceeds remaining from the disposition of the assets of such insured State association; provided, that the rights of the investors in, and creditors of, such insured State association shall be determined in accordance with the applicable provisions of the laws of this State. L.1963, c. 144, s. 220.
N.J. Stat. § 17B:18-38 — NJ Code / Title 17B / Chapter 18 / Section 18-38
Deposits; interest on; substitution of
Status: in_force

17B:18-38. The commissioner shall hold the securities deposited pursuant to N.J.S.17B:18-37 for the benefit and security of all the policyholders of the insurer depositing them, but shall, so long as it continues solvent and complies with all the requisites of the laws applicable to it, permit the insurer to collect the interest or dividends on the securities so deposited, and, from time to time to withdraw any of the securities, on depositing with him other eligible securities to the extent required to maintain the market value of the total deposit at the amount required by the commissioner. L.1971, c.144; amended 1989,c.264,s.6.
N.J. Stat. § 17:22-6.68 — NJ Code / Title 17 / Chapter 22 / Section 22-6.68
Repeal
Status: in_force

Section 21 of "An act relating to the licensing, regulation and supervision of insurance agents, insurance brokers and insurance solicitors, supplementing chapters 22, 32 and 36 of Title 17 of the Revised Statutes and repealing sections 17:22-1, 17:22-2, 17:22-3, 17:22-4, 17:22-5, 17:23-3, 17:32-6 and 17:32-11 of the Revised Statutes and section 1 of "An act concerning the licensing of agents for insurance companies in certain cases, supplementing chapter 22 of Title 17, and amending section 17:33-1 of the Revised Statutes,' approved May 16, 1941 (P.L.1941, c.118)" approved April 20, 1944 (P.L.1944, c.175) is repealed. L.1960, c.32, p. 104, s.1.
N.J. Stat. § 17:46E-4 — NJ Code / Title 17 / Chapter 46E / Section 46E-4
Limited lines travel insurance producer license.
Status: in_force

4. a. The commissioner may issue a limited lines travel insurance producer license to an individual or business entity that has filed with the commissioner an application for a limited lines travel insurance producer license in a form and manner prescribed by the commissioner. A limited lines travel insurance producer shall be licensed to sell, solicit, or negotiate travel insurance through a licensed insurer. No person may act as a limited lines travel insurance producer or travel insurance retailer unless properly licensed or registered. b. A travel retailer may offer and disseminate travel insurance under a limited lines travel insurance producer business entity license only if: (1) the limited lines travel insurance producer or travel retailer provides to purchasers of travel insurance: (a) a description of the material terms or the actual material terms of the insurance coverage; (b) a description of the process for filing a claim; (c) a description of the review or cancellation process for the travel insurance policy; and (d) the identity and contact information of the insurer and limited lines travel insurance producer; (2) at the time of licensure, the limited lines travel insurance producer shall establish and maintain a register, on a form prescribed by the commissioner, of each travel retailer that offers travel insurance on the limited lines travel insurance producer’s behalf. The register shall be maintained and updated by the limited lines travel insurance producer and shall include the name, address, and contact information of the travel retailer and an officer or person who directs or controls the travel retailer’s operations and the travel retailer’s federal tax identification number. The limited lines travel insurance producer shall submit the register to the Department of Banking and Insurance upon reasonable request. The limited lines travel insurance producer shall also certify that the travel retailer registered complies with section 1033 of Title 18 of the United States Code (18 U.S.C. s.1033). The grounds for the suspension, revocation, and the penalties applicable to resident insurance producers pursuant to section 40 of P.L.2001, c.210 (C.17:22A-40), shall be applicable to the limited lines travel insurance producers and travel retailers; (3) the limited lines travel insurance producer has designated one of its employees who is a licensed individual producer as the person, referred to as a “designated responsible producer,” responsible for the compliance with the travel insurance laws and regulations applicable to the limited lines travel insurance producer and its registrants; (4) the designated responsible producer, president, secretary, treasurer, and any other officer or person who directs or controls the limited lines travel insurance producer’s insurance operations complies with the fingerprinting requirements applicable to insurance producers in the resident state of the limited lines travel insurance producer; (5) the limited lines travel insurance producer has paid all applicable licensing fees; and (6) the limited lines travel insurance producer requires each employee and authorized representative of the travel retailer whose duties include offering and disseminating travel insurance to receive a program of instruction or training, which is subject, at the discretion of the commissioner, to review and approval. The training material shall, at a minimum, contain adequate instructions on the types of insurance offered, ethical sales practices, and required disclosures to prospective customers. c. Any travel retailer offering or disseminating travel insurance shall make available to prospective purchasers brochures or other written materials that have been approved by the travel insurer. The materials shall include information which, at a minimum: (1) provides the identity and contact information of the insurer and the limited lines travel insurance producer; (2) explains that the purchase of travel insurance is not required in order to purchase any other product or service from the travel retailer; and (3) explains that an unlicensed travel retailer is permitted to provide only general information about the insurance offered by the travel retailer, including a description of the coverage and price, but is not qualified or authorized to answer technical questions about the terms and conditions of the insurance offered by the travel retailer or to evaluate the adequacy of the customer’s existing insurance coverage. d. A travel retailer employee or authorized representative, who is not licensed as an insurance producer shall not: (1) evaluate or interpret the technical terms, benefits, and conditions of the offered travel insurance coverage; (2) evaluate or provide advice concerning a prospective purchaser’s existing insurance coverage; or (3) hold itself out as a licensed insurer, licensed producer, or insurance expert. e. Notwithstanding any law, rule, or regulation to the contrary, a travel retailer whose insurance-related activities, and those of its employees and authorized representatives, are limited to offering and disseminating travel insurance on behalf of and under the direction of a limited lines travel insurance producer meeting the conditions stated in P.L.2025, c.153 (C.17:46E-1 et seq.), is authorized to receive related compensation, upon registration by the limited lines travel insurance producer as described in paragraph (2) of subsection b. of this section. f. As the insurer’s designee, the limited lines travel insurance producer is responsible for the acts of the travel retailer and shall use reasonable means to ensure compliance by the travel retailer with P.L.2025, c.153 (C.17:46E-1 et seq.). g. Any person licensed in property or casualty authority as an insurance producer is authorized to sell, solicit and negotiate travel insurance. L.2025, c.153, s.4.
N.J. Stat. § 17:23-43 — NJ Code / Title 17 / Chapter 23 / Section 23-43
Discretion over responses.
Status: in_force

6. a. The insurer or insurance group shall have discretion over the responses to the disclosure inquiries, provided the disclosure shall contain the material information necessary to permit the commissioner to gain an understanding of the insurer's or group's corporate governance structure, policies, and practices. The commissioner may request additional information that the commissioner deems material and necessary to provide the commissioner with a clear understanding of the corporate governance policies, the reporting or information system or controls implementing those policies. b. Notwithstanding subsection a. of this section, the disclosure shall be prepared consistent with rules promulgated by the commissioner. Documentation and supporting information shall be maintained and made available upon examination or upon request of the commissioner. L.2019, c.350, s.6.
N.J. Stat. § 17:22-6.14a1 — NJ Code / Title 17 / Chapter 22 / Section 22-6.14a1
Property and casualty insurers; filing of current underwriting guidelines
Status: in_force

All property and casualty insurers doing business in New Jersey shall, upon request of the Commissioner of Insurance, file with the Department of Insurance a copy of their current underwriting guidelines, together with any amendments thereto or modification thereof. Such guidelines, amendments or modifications shall not be arbitrary, capricious or unfairly discriminatory. L.1971, c. 152, s. 2, eff. May 20, 1971.
N.J. Stat. § 17:24-29 — NJ Code / Title 17 / Chapter 24 / Section 24-29
Permitted investments, qualifications.
Status: in_force

2. An insurer may invest in investment pools that: a. Invest only in: (1) Obligations that are rated "1" or "2" by the SVO or have an equivalent of an SVO "1" or "2" rating by a nationally recognized statistical rating organization recognized by the SVO and have: (a) A remaining maturity of 397 days or less or a put that entitles the holder to receive the principal amount of the obligation, which put may be exercised through maturity at specified intervals, not exceeding 397 days; or (b) A remaining maturity of three years or less and a floating interest rate that resets no less frequently than quarterly on the basis of a current short-term index (federal funds, prime rate, treasury bills, London InterBank Offered Rate (LIBOR) or commercial paper) and is subject to no maximum limit, if the obligations do not have an interest rate that varies inversely to market interest rate changes; (2) Government money market mutual funds or class one money market mutual funds; or (3) Securities lending, repurchase and reverse repurchase transactions on investments in which an insurer is permitted to invest pursuant to the provisions of R.S.17:24-1; or b. Invest only in investments which an insurer may acquire under subsection a. of this section if the insurer's proportionate interest in the amount invested in these investments does not exceed the applicable limits of section 4 of this act. L.1999,c.20,s.2.
N.J. Stat. § 17:37A-18 — NJ Code / Title 17 / Chapter 37A / Section 37A-18
New Jersey insurance development fund; purpose; administration
Status: in_force

There is hereby created a fund to be known as the "New Jersey Insurance Development Fund," for the purpose of providing a financial backup for the plan of operation of the association as approved or issued by the commissioner pursuant to this act. The fund shall be used to reimburse any insurer or the association established pursuant to this act for losses sustained in excess of the amount of retention of such losses as shall be provided for by the commissioner; except that in any given calendar year the total amount of all such reimbursement shall not exceed 5% of the insurance premiums written on basic property insurance in this State in the most recent full calendar year. The fund shall consist of all payments made to the fund by insurers as hereinafter provided, of securities acquired by and through the use of moneys belonging to the fund, moneys appropriated to the fund as provided in this act, together with interest and accretions earned upon such payments or investments. The fund shall be administered by the commissioner and the State Treasurer in accordance with the provisions of this act. L.1968, c. 129, s. 18, eff. July 1, 1968. Amended by L.1977, c. 185, s. 1, eff. Aug. 22, 1977.
N.J. Stat. § 17B:26-2.1v — NJ Code / Title 17B / Chapter 26 / Section 26-2.1v
Individual health insurer prescription drug plans to cover certain infant formulas.
Status: in_force

5. An individual health insurer which provides hospital or medical expense benefits for expenses incurred in the purchase of prescription drugs under a policy that 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 benefits under the policy for expenses incurred in the purchase of specialized non-standard infant formulas, when the covered infant's physician has diagnosed the infant as having multiple food protein intolerance and has determined such formula to be medically necessary, and when the covered infant has not been responsive to trials of standard non-cow milk-based formulas, including soybean and goat milk. The coverage may be subject to utilization review, including periodic review, of the continued medical necessity of the specialized infant formula. The benefits shall be provided to the same extent as for any other prescribed items under the policy. This section shall apply to those policies in which the insurer has reserved the right to change the premium. L.2001,c.361,s.5.
N.J. Stat. § 17:9A-384 — NJ Code / Title 17 / Chapter 9A / Section 9A-384
Application; hearing
Status: in_force

3. a. An application by a person for the approval of the commissioner to obtain control of a capital stock savings bank, to offer to acquire beneficial ownership or control of more than 25% of the voting shares of a capital stock savings bank, or to acquire beneficial ownership or control of more than 25% of the voting shares of a capital stock savings bank shall be made on a form provided by the commissioner. The commissioner shall give notice to the capital stock savings bank involved in the proposed transaction and, upon request, shall send a copy of the application to the capital stock savings bank within five business days of receiving the application. If the commissioner decides to hold a hearing on the application, the notice shall include the hearing date established pursuant to subsection b. of this section. No later than 10 days after the date upon which a completed application is filed with the commissioner, the applicant shall cause to be published a notice of application for control of a capital stock savings bank. This publication shall be made in a newspaper of general circulation in the county in which the capital stock savings bank has its principal office. The notice shall include whatever information the commissioner, by regulation, deems to be necessary and appropriate. b. The commissioner may hold a hearing on the application within 60 days of receipt of the completed application. If the commissioner decides to hold a hearing on the application, the commissioner shall notify the applicant as to the date of the hearing within five business days of the date the commissioner receives the completed application. The hearing shall be held in accordance with the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) and any rules and regulations promulgated by the commissioner. L.1987,c.201,s.3; amended 1995,c.24,s.3.
N.J. Stat. § 17:48-10 — NJ Code / Title 17 / Chapter 48 / Section 48-10
Solicitation and administrative expenses; investment of funds; surplus
Status: in_force

No corporation subject to the provisions of this chapter shall during any one year disburse more than 10% of the aggregate amount of the payments received from subscribers during that year as expenditures for the soliciting of subscribers, except that during the first year after the issuance of a certificate of authority such corporation may so disburse not more than 20% of such amount and during the second year not more than 15%. No such corporation shall, during any one year, disburse a sum greater than 20% of the payments received from subscribers during that year as administrative expenses. The term, "administrative expenses," as used in this section, shall include all expenditures for nonprofessional services and in general all expenses not directly connected with the furnishing of hospital services, but not including expenses of soliciting subscribers. The funds of any hospital service corporation may be invested only in accordance with the requirements now or hereafter provided by law for the investment of funds of life insurance companies. Every hospital service corporation after the first full calendar year of doing business after the effective date of this chapter, shall accumulate and maintain a special contingent surplus over and above its reserves and liabilities at the rate of 2% annually of its net premium income until such surplus shall be not less than $100,000.00. Thereafter for any subsequent calendar year, such special contingent surplus shall be maintained at 2 1/2 % of the net premium income received during that year as determined by reference to the statement of financial condition filed pursuant to R.S. 17:48-11. The special contingent surplus as herein provided shall be contributed by each of the following two categories: 1) community rated, excluding open enrollment and conversion groups; and 2) experience rated subscribers, in the ratio that the net premium income of each category bears to the total net premium income of the corporation and by contributions from the category that gives rise to a diminution of the surplus required to be maintained under this act. Whenever it shall appear that such special contingent surplus has deviated from the amount required to be maintained by more than 2% of the aggregate amount of the net premium income received during that year, the Commissioner of Insurance shall approve and promulgate a plan reasonably calculated to return such special contingent surplus to the amount required to be maintained, within 2 years from the date of implementation of the plan specified above. Approval and promulgation of said plan by the Commissioner of Insurance shall not abrogate the responsibilities of corporate officers with regard to the reporting of financial conditions pursuant to section 11 of the act which that act amends. L.1938, c. 366, p. 929, s. 10. Amended by L.1978, c. 94, s. 3, eff. January 1, 1981.
N.J. Stat. § 17:13-75 — NJ Code / Title 17 / Chapter 13 / Section 13-75
Insurance; exception
Status: in_force

Within 1 year of the effective date of this act, every credit union incorporated under the act to which this act is a supplement shall, as a condition of its authority to do business in this State, apply for insurance on shares and deposits as provided by the National Credit Union Administration under Title II of the Federal Credit Union Act, Pub.L. 91-468 (12 U.S.C. s. 1781 et seq.), or alternatively, a form and amount of comparable insurance approved by the Commissioner of Banking. This requirement does not apply to a credit union with shares, deposits, debt and equity capital consisting primarily of funds from other credit unions. The commissioner may establish by regulation which credit unions shall qualify for this exception to the requirement for insurance. L.1982, c. 86, s. 1, eff. July 23, 1982.
N.J. Stat. § 17:49-2 — NJ Code / Title 17 / Chapter 49 / Section 49-2
Applicability of laws governing insurance corporations
Status: in_force

Every person, partnership or association receiving any such certificate shall be subject to the insurance laws of this State and to the jurisdiction and supervision of the Commissioner of Banking and Insurance in the same manner as if an insurance corporation organized upon the stock plan pursuant to the laws of this State, and authorized to do the business of insurance specified in the certificate. L.1939, c. 188, p. 544, s. 2.
N.J. Stat. § 17:10B-3 — NJ Code / Title 17 / Chapter 10B / Section 10B-3
Investigations, examinations by commissioner
Status: in_force

3. a. The commissioner may make such investigations and examinations upon reasonable suspicion as he deems necessary to determine whether a person has violated or is about to violate any provision of this act or any order, rule or regulation issued hereunder. For such purposes, he may investigate or examine the books, accounts, records, papers and other documents or matters of the person. He shall have the power to compel by subpena the attendance of witnesses and the production of all relevant books, accounts, records, papers and other documents or matters relative to an examination or investigation and to administer oaths and affirmations to any person. The costs of each examination shall be borne by the person at the department's regular per diem rate for examinations of licensees. Examinations conducted under the provisions of this act shall be confidential except as required in the administration, enforcement and prosecution of violations under this act, actions brought by the Attorney General, or pursuant to a court order. b. If any person refuses to obey a subpena, or to give testimony or to produce evidence, the commissioner may apply ex parte to any court having jurisdiction over that person for an order compelling the appearance of the witness before the commissioner to give testimony or to produce evidence as required thereby, or both. L.1992,c.66,s.3.
N.J. Stat. § 17:16F-15 — NJ Code / Title 17 / Chapter 16F / Section 16F-15
Definitions
Status: in_force

As used in this act: "Commissioner" means the Commissioner of Community Affairs. "Duplicate copy" means a duplicate of the original property tax bill which duplicate is generated by the collector of a taxing district. "Mortgagee" means the holder of a mortgage loan. "Mortgage escrow account" or "escrow account" means an account which is part of a mortgage loan agreement, whether incorporated into the agreement or as part of a separately executed document, whereby: the mortgagor is obligated to make periodic payment to the mortgagee or his agent for taxes, insurance premiums, or other charges with respect to the real property which secures the mortgage loan; and the mortgagee or his agent is obligated to make payments for taxes, insurance premiums or other charges with respect to the real property which secures the mortgage loan. "Mortgage loan" means a loan made to a natural person or persons to whom credit is offered or extended primarily for personal, family or household purposes which is secured by a mortgage constituting a lien upon real property located in this State on which there is erected or to be erected a structure containing one, two, three, four, five or six dwelling units, a portion of which structure may be used for nonresidential purposes, in the making of which the mortgagee relies primarily upon the value of the mortgaged property. "Mortgagor" includes any person liable for the payment of a mortgage loan, and the owner of real property which secures the payment of a mortgage loan. "Original tax bill" means the property tax bill as originally prepared and mailed by the collector of a taxing district pursuant to subsection a. of R.S.54:4-64. "Property tax processing organization" means an organization which, under contract with a mortgagee or a servicing organization, collects and processes property tax information with respect to properties securing mortgage loans. "Purchasing servicing organization" means a person or entity to whom or which a mortgagee or a selling servicing organization sells, assigns or transfers the servicing of a mortgage loan. "Replacement bill" means a property tax bill made or generated by a mortgagee, servicing organization or tax processing organization subject to the restrictions provided pursuant to subsection a. of section 5 of this act and regulations promulgated by the Commissioner of Community Affairs pursuant to subsection a. of section 5 of this act. "Selling servicing organization" means a person or entity who sells, assigns or transfers the servicing of a mortgage loan. "Servicing organization" means a mortgagee or an agent of the mortgagee, pursuant to a written agreement between the agent and the mortgagee, which is responsible for one or more mortgage escrow accounts. "Tax authorization form" means a form approved by the Commissioner of Community Affairs whereby the mortgagor authorizes the municipal tax collector to send the original municipal tax bill to the mortgagee or the mortgagee's servicing organization pursuant to R.S.54:4-64. L.1990,c.69,s.1.
N.J. Stat. § 17:36-5.37 — NJ Code / Title 17 / Chapter 36 / Section 36-5.37
Regulations.
Status: in_force

5. The commissioner shall promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the provisions of this act. L.2001,c.409,s.5.
N.J. Stat. § 17:48F-3 — NJ Code / Title 17 / Chapter 48F / Section 48F-3
Application for certificate of authority, requirements.
Status: in_force

3. Each application for a certificate of authority to operate a prepaid prescription service organization shall be made to the commissioner on a form prescribed by the commissioner, shall be certified by an officer or authorized representative of the applicant, and shall include the following: a. A copy of the applicant's basic organizational document, such as the articles of incorporation, if a corporation, articles of association, partnership agreement, management agreement, trust agreement, or other applicable documents and all amendments to such documents; b. A copy of the executed bylaws, rules and regulations, or similar documents, regulating the conduct of the applicant's internal affairs; c. A list, in a form approved by the commissioner, of the names, addresses, and official positions of the persons who are to be responsible for the conduct of the affairs of the applicant, including, but not limited to, the members of the board of directors, executive committee or other governing board or committee, the principal officers, and any person or entity owning or having the right to acquire 10% or more of the voting securities of the applicant; in the case of a partnership or association, the names of the partners or members; each person who has loaned funds to the applicant for the operation of its business; and a statement of any criminal convictions or enforcement or regulatory action taken against any person who is a member of the board, the executive committee or other governing board or committee, or the principal officers; d. A statement generally describing the applicant, its facilities, personnel, and the prescription services to be offered by the organization; e. A copy of the standard form of any contract made or to be made between the applicant and any providers relative to the provision of prescription services to enrollees or contract holders; f. A copy of the form of any contract made or to be made between the applicant and contract holders or prospective contract holders; g. A copy of the applicant's most recent financial statements audited by an independent certified public accountant. If the financial affairs of the applicant's parent company are audited by an independent certified public accountant but those of the applicant are not, then a copy of the most recent audited financial statement of the applicant's parent company, certified by an independent certified public accountant, attached to which are consolidating financial statements of the applicant, shall satisfy this requirement unless the commissioner determines that additional or more recent financial information is required for the proper administration of this act; h. A copy of the applicant's financial plan, including a three-year projection of anticipated operating results, a statement of the sources of working capital, and any other sources of funding and provisions for contingencies; i. A list of any affiliate of the applicant which provides services to the applicant in this State and a description of any material transaction between the affiliate and the applicant; j. A schedule of rates and charges; k. A description of the proposed method of marketing; l. A description of the complaint procedures instituted by the applicant; m. A description of the quality control and utilization review procedures established by the applicant; n. A power of attorney, if the applicant is not domiciled in this State, duly executed by the applicant, appointing the commissioner and his successors in office as the true and lawful attorney of the applicant in and for this State upon whom all lawful process in any legal action or proceeding against the organization on a cause of action arising in this State may be served; o. A description of the means which will be utilized to assure the availability and accessibility of the services to enrollees; p. A plan, in the event of insolvency, for continuation of the benefits to be provided for under the contract; and q. Such other information as may be required by the commissioner. L.1997,c.380,s.3.
N.J. Stat. § 17:9A-6.3 — NJ Code / Title 17 / Chapter 9A / Section 9A-6.3
Consideration for issue; preemptive rights
Status: in_force

Authorized but unissued stock may be issued pursuant to this act for cash or for consideration other than cash, and may be issued without first being offered to existing stockholders. L.1970, c. 294, s. 3, eff. Dec. 14, 1970.
N.J. Stat. § 17:48E-35.2 — NJ Code / Title 17 / Chapter 48E / Section 48E-35.2
Health service corporation insurance benefits for preexisting condition.
Status: in_force

3. a. Notwithstanding any other provision of law to the contrary, no group health insurance contract issued by a health service corporation pursuant to the provisions of P.L.1985, c.236 (C.17:48E-1 et seq.), shall contain any provision which denies benefits for a preexisting condition to any person becoming a member of that group. A health service corporation shall not include a preexisting condition as a factor in calculating the premium. b. Nothing in this section shall be construed to operate to add any benefit, to increase the scope of any benefit, or to increase any benefit level under any group contract. c. This section shall apply to every group contract or policy in which the corporation or insurer has the right to change the premium. L.1989, c.63, s.3; amended 2019, c.353, s.3.
N.J. Stat. § 17:1-5 — NJ Code / Title 17 / Chapter 1 / Section 1-5
Seal of office; certificates under seal as evidence
Status: in_force

The seal of office of the commissioner, filed in the department of state, shall continue as the seal of such office. Every certificate, assignment, conveyance or other official paper executed by the commissioner under authority of law and sealed with the seal, shall be received as evidence and may be recorded in proper recording offices in the same manner and with the same effect as a deed duly acknowledged or proved before an officer authorized by law to take proof or acknowledgment of deeds. All copies of papers in the office of the commissioner, certified by him and authenticated by the seal, shall be accepted as evidence equally and in like manner as the original. An impression of the seal directly on paper shall be as valid as if made on wax or wafer.
N.J. Stat. § 17B:35-5 — NJ Code / Title 17B / Chapter 35 / Section 35-5
References to repealed provisions as references to provisions of this act
Status: in_force

Any laws of New Jersey, other than this act, remaining in force after the effective date of this act which refer to certain provisions of law repealed under this act, shall be deemed to refer to those provisions of this act which are in substance the same or substantially the same as such repealed provisions. L.1971, c. 144, s. 17B:35-5.
N.J. Stat. § 17:23-9 — NJ Code / Title 17 / Chapter 23 / Section 23-9
Definitions
Status: in_force

As used in this act: a. "Authorized governmental agency" means the Department of Insurance, any law enforcement agency, or any agency or instrumentality of the State, county or municipality or of the Federal Government which is charged with the responsibility of investigating motor vehicle theft or motor vehicle insurance fraud. b. "Information deemed important" means information requested by an authorized governmental agency. c. "Insurer" means any insurance company writing insurance for motor vehicles or otherwise liable for any loss due to motor vehicle theft or motor vehicle insurance fraud in this State. d. "Relevant" means having a tendency to make the existence of any fact that is of consequence to any investigation or determination of an issue more probable or less probable than it would be without the information. L.1983, c. 214, s. 2, eff. June 15, 1983.
N.J. Stat. § 17B:29-7 — NJ Code / Title 17B / Chapter 29 / Section 29-7
Filing of forms; premium rate schedules
Status: in_force

17B:29-7. a. All forms of policies, certificates of insurance, notice of proposed insurance, applications for insurance, endorsements and riders delivered or issued for delivery in this State and the schedules of premium rates pertaining thereto shall be filed with the commissioner in accordance with the provisions of subsection g. of this section. b. (Deleted by amendment, P.L.1995, c.73.) c. If a form or the schedule of premium rates pertaining thereto is disapproved by the commissioner during the 60-day period, the form may not be delivered or issued for delivery unless the form or schedule of premium rates is resubmitted in accordance with paragraphs (2), (3) and (4) of subsection g. of this section. A form or schedule of rates that is disapproved shall be subject to review in accordance with the procedure described in the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) and any rules adopted thereunder. Any such form which is filed by the commissioner or deemed filed may be so delivered or issued for delivery until such time as any subsequent withdrawal of the filing by the commissioner, following an opportunity for a hearing held in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) and any rules adopted thereunder, becomes final in accordance therewith. d. (Deleted by amendment, P.L.1995, c.73.) e. The disapproval for filing or the withdrawal of the filing of any such form or schedule of premium rates may only be on one or both of the following grounds that may be applicable: (1) the premium rates charged or to be charged are excessive in relation to benefits, or (2) such form contains provisions which are unjust, unfair, inequitable, misleading, deceptive, or encourage misrepresentation of the coverage, or are contrary to any provision of this code or of any rule or regulation promulgated thereunder. f. If a group policy of credit life insurance or credit health insurance (1) has been delivered in this State before the effective date of this chapter, or (2) has been or is delivered in another State before or after the effective date of this chapter, the insurer shall be required to submit for filing only the group certificate and notice of proposed insurance delivered or issued for delivery in this State as specified in subsections b. and d. of N.J.S.17B:29-6 and such forms shall be filed by the commissioner if they conform with the requirements specified in said subsections and if the schedules of premium rates applicable to the insurance evidenced by such certificate or notice are not in excess of the insurer's schedules of premium rates filed with the commissioner. g. (1) Any form or schedule of premium rates subject to the provisions of N.J.S.17B:29-1 et seq. shall be filed with the commissioner for approval as provided in this subsection. Any form, except those certified pursuant to section 17 of P.L.1995, c.73 (C.17B:25-18.3), and any schedule of premium rates pertaining thereto, shall be filed with the commissioner for approval pursuant to the provisions of this subsection. (2) Any form or schedule of premium rates pertaining thereto filed with the commissioner for approval pursuant to this subsection shall be deemed approved upon the expiration of 60 days after the submission of the form or schedule of premium rates unless disapproved in writing by the commissioner within that time. Any such disapproval shall be based only on the specific provisions of applicable statutes, regulations adopted by the commissioner, or guidelines published by the commissioner as of the effective date of P.L.1995, c.73 (C.17:48-8.1 et al.) with regard to forms of that type or the schedules of premium rates pertaining thereto. A disapproved form or schedule of premium rates pertaining thereto may be resubmitted. (3) Any form or schedule of premium rates submitted for approval pursuant to this subsection and disapproved by the commissioner before the expiration of 60 days after its submission, shall be deemed withdrawn at the expiration of 60 days after the transmittal of the commissioner's specific objections unless the filer submits a complete written response to all of the commissioner's objections regarding the submission within the 60 day period. (4) A form or schedule of premium rates, resubmitted in response to the commissioner's objections pursuant to paragraph (2) of this subsection, shall be deemed approved upon the expiration of 30 days after its resubmission unless disapproved in writing by the commissioner within that time. No disapproval by the commissioner of a resubmission shall be based on any objection not specified by the commissioner in his initial disapproval of the filing, except that the commissioner may disapprove the form or schedule of premium rates based on any new provisions introduced in the resubmission or if in addressing the specified objections cited in the commissioner's disapproval transmission, the insurer changes or modifies any substantive provisions of the form or schedule of premium rates. Any form or schedule of premium rates resubmitted for approval pursuant to this subsection and disapproved by the commissioner before the expiration of 30 days after its submission, shall be deemed withdrawn at the expiration of 30 days after the transmittal of the commissioner's specific objections unless the filer submits a complete written response to all of the commissioner's objections regarding the submission within the 30 day period. (5) With respect to all types of forms or schedules of premium rates to be filed pursuant to this subsection and currently on file with and approved by the commissioner upon enactment of P.L.1995, c.73 (C.17:48-8.1 et al.), the commissioner shall propose regulations which may be amended or modified by the commissioner from time to time after adoption, concerning any actuarial or form requirements consistent with applicable statutory provisions but not specified therein, not later than 180 days after enactment of P.L.1995, c.73 (C.17:48-8.1 et al.). Any such regulation shall be adopted not later than 180 days after it is proposed. With respect to any type of form or schedule of premium rates not then on file with the commissioner but filed subsequent to the enactment of P.L.1995, c.73 (C.17:48-8.1 et al.) the commissioner shall propose regulations, which may be amended or modified by the commissioner from time to time after adoption, concerning any actuarial or form requirements consistent with applicable statutory provisions but not specified therein, within 120 days after the form is approved or deemed approved by the commissioner pursuant to this subsection. Any such regulation shall be adopted not later than 180 days after it is proposed. The commissioner may issue bulletins which are interpretive of existing regulations consistent with statutory provisions, with respect to any type of policy form that may be certified pursuant to section 17 of P.L.1995, c.73 (C.17B:25-18.3). Nothing in this subsection shall preclude an insurer from filing a certifiable form or schedule of premium rates for approval by the commissioner. (6) For purposes of this subsection, "days" means calendar days, except that when the last day of any specified time period is a Saturday, Sunday, or State holiday, then the time period shall end on the next following business day. With respect to any specified time period pertaining to correspondence between an insurer and the commissioner, the time period shall commence on the date that such correspondence is postmarked or submitted to a private delivery service. h. For purposes of subsection b. of section 17 of P.L.1995, c.73 (C.17B:25-18.3), credit life and credit health insurance shall be considered a category of individual or group life or health insurance. L.1971, c.144; amended 1995,c.73,s.23.
N.J. Stat. § 17:48A-7dd — NJ Code / Title 17 / Chapter 48A / Section 48A-7dd
Medical service corporation to provide coverage for hearing aids, cochlear implant for covered persons.
Status: in_force

3. a. A medical service corporation contract that provides hospital and medical expense benefits and is delivered, issued, executed or renewed in this State pursuant to P.L.1940, c.74 (C.17:48A-1 et seq.), 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 medically necessary expenses incurred in the purchase of a hearing aid or cochlear implant for a covered person, as provided in this section. b. A medical service corporation contract shall provide coverage that includes the purchase of a hearing aid for each ear, when medically necessary and as prescribed or recommended by a licensed physician or audiologist. A medical service corporation may limit the benefit provided in this section to one hearing aid for each hearing-impaired ear every 24 months. c. A medical service corporation contract shall provide coverage of the cost of treatment related to cochlear implants, including procedures for the implantation of cochlear devices and costs for any parts, attachments, or accessories of the device, including replacement of obsolete external cochlear implant processors. d. The benefits shall be provided to the same extent as for any other condition under the contract. e. This section shall apply to those medical service corporation contracts in which the medical service corporation has reserved the right to change the premium. L.2008, c.126, s.3; amended 2023, c.275, s.2.
N.J. Stat. § 17:13-82 — NJ Code / Title 17 / Chapter 13 / Section 13-82
Disapproval of application; annexation; filing of certificate of approval.
Status: in_force

4. The commissioner shall disapprove the application if the commissioner finds that: a. The incorporation of the proposed credit union will not be in the public interest; b. The incorporators do not evidence character, responsibility, and general fitness; c. The provisions contained in the certificate of incorporation for the regulation of the business and the provisions creating or limiting the powers of the proposed credit union are improper provisions, or will not serve the best interest of the members of the proposed credit union; or d. The conditions of employment or other conditions prevailing in any group or organization from which the membership is to be drawn are such as to result in financial instability or otherwise render the organization of the credit union inadvisable. If the application is approved by the commissioner, the commissioner shall annex a certificate of approval, and the application shall be filed in the department. L.1984,c.171,s.4; amended 1998, c.133, s.2.
N.J. Stat. § 17:9A-449 — NJ Code / Title 17 / Chapter 9A / Section 9A-449
Assets kept separate, apart; priority of creditors
Status: in_force

68. a. Each foreign bank which is licensed to transact business in this State shall keep the assets of that business separate and apart from the assets of its business outside this State. b. The creditors of the business in this State of a foreign bank which is licensed to transact business in this State shall be entitled to priority over other creditors with respect to the assets of the foreign banks's business in this State. L.1996,c.17,s.68.
N.J. Stat. § 17B:32-82 — NJ Code / Title 17B / Chapter 32 / Section 32-82
Petition for appointment as ancillary receiver
Status: in_force

52. a. If a domiciliary liquidator has been appointed for an insurer not domiciled in this State, the commissioner may file a petition with the Superior Court requesting appointment as ancillary receiver in this State: (1) If he finds that there are sufficient assets of the insurer located in this State to justify the appointment of an ancillary receiver; (2) If the protection of creditors or policyholders in this State so requires. b. The court may issue an order appointing an ancillary receiver in whatever terms it shall deem appropriate. The filing or recording of the order with the recorder of deeds in this State imparts the same notice as a deed, bill of sale or other evidence of title duly filed or recorded with that recorder of deeds. c. When a domiciliary liquidator has been appointed in a reciprocal state, then the ancillary receiver appointed in this State may, whenever necessary, aid and assist the domiciliary liquidator in recovering assets of the insurer located in this State. The ancillary receiver shall, as soon as practicable, liquidate from their respective securities those special deposit claims and secured claims which are proved and allowed in the ancillary proceedings in this State, and shall pay the necessary expenses of the proceedings. He shall promptly transfer all remaining assets, books, accounts and records to the domiciliary liquidator. Subject to this section, the ancillary receiver and his deputies shall have the same powers and be subject to the same duties with respect to the administration of assets as a liquidator of an insurer domiciled in this State. d. When a domiciliary liquidator has been appointed in this State, ancillary receivers appointed in reciprocal states shall have, as to assets and books, accounts and other records in their respective states, corresponding rights, duties and powers to those provided in subsection c. of this section for ancillary receivers appointed in this State. L.1992,c.65,s.52.
N.J. Stat. § 17:12B-61 — NJ Code / Title 17 / Chapter 12B / Section 12B-61
Transmission of money; money orders; travel checks
Status: in_force

Any association may receive money for transmission and may transmit such money through the Federal Home Loan Bank of New York, or through any bank or trust company, and may sell money orders and travel checks as agent for any person empowered to sell such instruments through an agent within the State of New Jersey. L.1963, c. 144, s. 61.
N.J. Stat. § 17:30B-15 — NJ Code / Title 17 / Chapter 30B / Section 30B-15
Severability
Status: in_force

If any provision of this act or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this act which can be given effect without the invalid provision or application, and for this purpose the provisions of this act are declared to be severable, provided however that if section 10 is held invalid, the entire act shall be invalid. L.1974, c. 106, s. 15, eff. Sept. 19, 1974.
N.J. Stat. § 17:30A-7 — NJ Code / Title 17 / Chapter 30A / Section 30A-7
Board of directors
Status: in_force

a. The board of directors of the association shall consist of not less than five nor more than nine members serving terms as established in the plan of operation hereinafter described. One member of the board shall be appointed by the commissioner from and among the officers of the various mutual insurance companies, and one member of the board shall be appointed by the commissioner from among the officers of the various stock insurance companies. The remaining members of the board shall be selected by member insurers subject to the approval of the commissioner. Vacancies on the board shall be filled for the remaining period of the term in the manner described in the plan of operation. To select the initial board of directors, and initially organize the association, the commissioner shall give notice to all member insurers of the time and place of the organizational meeting. In determining voting rights at the organizational meeting, each member insurer shall be entitled to one vote in person or by proxy. If the board of directors is not selected within 60 days after notice of the organizational meeting, the commissioner may appoint all the initial members; b. In approving selections or in appointing members to the board, the commissioner shall consider, among other things, whether all member insurers are fairly represented; c. Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors. L.1974, c. 17, s. 7, eff. April 11, 1974.
N.J. Stat. § 17:16M-6 — NJ Code / Title 17 / Chapter 16M / Section 16M-6
Notification of applicant
Status: in_force

a. Within 60 days of receiving all of the information and documents specified in section 3 of this act and such other information as the commissioner may require, the commissioner shall notify the applicant as to whether the commissioner intends to approve the application, or whether it is denied. The intent of approval may be conditioned upon the applicant satisfying conditions set by the commissioner. If the commissioner denies the application, the commissioner shall notify the applicant in writing and shall state the basis for the denial. b. Upon a finding that the applicant has met all of the requirements of this act and all conditions imposed on the commissioner's intent of approval, the commissioner shall issue a certificate of approval of the conversion which shall be endorsed upon or annexed to the certificate of incorporation. L.1991,c.42,s.6.
N.J. Stat. § 17:16C-24 — NJ Code / Title 17 / Chapter 16C / Section 16C-24
Notice to buyer in retail installment contract
Status: in_force

Every retail installment contract shall contain the following notice printed prominently, in the form herein indicated, in 10-point bold type or larger, directly above the notice required by section 25: "NOTICE TO RETAIL BUYER Do not sign this contract in blank. You are entitled to a copy of the contract at the time you sign. Keep it to protect your legal rights." L.1960, c. 40, p. 150, s. 24.
N.J. Stat. § 17B:27B-5 — NJ Code / Title 17B / Chapter 27B / Section 27B-5
Denial of license, registration.
Status: in_force

5. The commissioner may deny an application for licensure or registration as a third party administrator if he finds that any of the standards established by this act have not been met or for any other reasonable grounds. If the application for licensure or registration is denied, the commissioner shall notify the applicant in writing by certified mail, return receipt requested, setting forth his reasons for denial. The applicant may request a hearing by notice to the commissioner no later than the 30th day following receipt of the notice of denial. L.2001,c.267,s.5.