reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:20-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:20-1 - Definitions

17:20-1. Definitions  17:20-1. a. As used in this chapter: (1) "Bank" means a State or federally chartered bank, savings bank, or savings and loan association which has trust powers and which has its principal office in New Jersey. (2) "Custodian" means a bank which performs fiduciary functions in the maintenance of deposits. (3) "Deposit" means those deposits of securities required to be made by insurance companies prior to their authorization to transact business within any jurisdiction. (4) "Federal Reserve book-entry system" means the computerized system sponsored by the United States Department of the Treasury and certain agencies and instrumentalities of the United States for holding and transferring securities of the United States government and the agencies and instrumentalities, respectively, in Federal Reserve Banks through banks which are members of the Federal Reserve System or which otherwise have access to this computerized system.  (5) "Policyholders" means those persons including subscribers, certificate holders, and others who are named in or covered by a contract of insurance. (6) "Securities" means and shall only include: (a) Bills, bonds and notes issued by the United States Treasury; (b) Debt obligations of the State of New Jersey, its authorities, counties and municipalities; and (c) Certificates of deposit of a State or federally chartered bank, savings bank, or savings and loan association with its principal office in New Jersey. b. The commissioner shall appoint one or more custodians which shall be selected on the basis of bids submitted by banks to perform such fiduciary functions as the commissioner deems necessary in the maintenance of deposits.  c. Every company organized under subtitle 3 of Title 17 of the Revised Statutes (R.S.17:17-1 et seq.), other than a mutual company organized to make insurance solely against loss or damage to property belonging to the insured member, shall deposit with the custodian on behalf of the commissioner, securities with a market value of at least $100,000.00 to be held in physical form or purchased for its account in the Federal Reserve book-entry system. The deposits shall be held for the benefit and security of all the policyholders of the company depositing them. The records of the custodian, through which an insurance company holds securities in the Federal Reserve book-entry system or in physical form, shall at all times show that these securities are held for an insurance company and for which accounts thereof.  d. The Commissioner of Insurance may, from time to time, after the company has commenced business, require it to make further deposits of securities up to the sum of $250,000, as the commissioner may deem necessary to protect the policyholders of the depositing company.  Amended 1989,c.264,s.1; repealed in part (see N.J.S.17B:36-3b).
NJ Rev Stat § 17:20-1.1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:20-1.1 - Procedure for holding of deposits

17:20-1.1. Procedure for holding of deposits  Whenever the commissioner is required or authorized by a law of this or any other state or country to receive and hold a deposit, he may utilize the procedures for the holding of those deposits which are found in R.S.17:20-1.  L.1989, c.264, s.12.
NJ Rev Stat § 17:20-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:20-2 - Deposits; interest on; substitution of

17:20-2. Deposits; interest on; substitution of  17:20-2. The commissioner shall hold the securities deposited as aforesaid, for the benefit and security of all the policyholders of the company depositing them, but shall, so long as the company continues solvent and complies with all the requisites of the laws applicable to it, permit the company to collect the interest or dividends on the securities so deposited, and, from time to time, with his assent, to withdraw any of the securities, on depositing with him other eligible securities, the market value of which shall not cause the value of the total deposit to fall below the amount required by the commissioner.  Amended 1989,c.264,s.2; repealed in part(see N.J.S.17B:36-3b).
NJ Rev Stat § 17:20-3.1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:20-3.1 - Fees for services of custodian required pursuant to R.S.17:20-1 et seq.

17:20-3.1. Fees for services of custodian required pursuant to R.S.17:20-1 et seq.  The Commissioner of Insurance shall establish, by regulation, the fees to be charged insurance companies for the services of the custodian pursuant to the requirements of R.S.17:20-1 through R.S.17:20-3.  L.1989, c.264, s.4.
NJ Rev Stat § 17:20-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:20-4 - Deposits to do business elsewhere

17:20-4. Deposits to do business elsewhere  The commissioner may receive from any insurance company of this State a deposit of any securities necessary to enable it to transact business in any other State, territory, dependency or Federal District of the United States or in any foreign country under the laws thereof. The securities shall be held by the commissioner as long as the company desires to transact business in the State, territory, dependency, Federal District or foreign country requiring the deposit but the company may draw the dividends or receive the interest on the securities. When the company desires to discontinue its business therein, and the deposit is no longer required by the laws thereof, the commissioner shall return the securities to the company depositing them. Before the commissioner shall return such securities deposited with him as aforesaid, the company shall institute an action and obtain a judgment therefor in the Superior Court substantially similar to that provided in section 17:20-3 of this Title. Amended by L.1953, c. 17, p. 240, s. 110.
NJ Rev Stat § 17:21-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:21-1 - Proxy voting permitted at elections

17:21-1. Proxy voting permitted at elections  At any election of directors, managers or other officers of an insurance company of this state, 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 three years from its date.
NJ Rev Stat § 17:21-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:21-2 - Compensation of directors

17:21-2. Compensation of directors  The directors of any insurance company of this state, when acting as its officers, and also for each occasion of their attendance at meetings of the board or its committees, may receive such compensation as a majority of the board deems just and reasonable.
NJ Rev Stat § 17:21-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:21-3 - Election of directors of benefit companies

17:21-3. Election of directors of benefit companies  All elections of directors of any stock insurance company of this state incorporated by special charter, whose object is to assist its sick or needy members, or aid in defraying funeral expenses of deceased members and make provision for their families, shall be by the stockholders of the company, and no policyholder or person insured in the company may vote at an election unless he is also a stockholder.
NJ Rev Stat § 17:22-5.2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-5.2 - Effective date

17:22-5.2. Effective date  This act shall take effect May first, one thousand nine hundred and forty-two. L.1941, c. 118, p. 267, s. 3.
NJ Rev Stat § 17:22-6.2a (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.2a - Authorization entitling broker to receive insurance premium on behalf of insurer

17:22-6.2a. Authorization entitling broker to receive insurance premium on behalf of insurer  Any insurer which delivers in this State to any insurance broker a contract of insurance (other than a contract of life insurance, or life, accident or health insurance) pursuant to the application or request of such broker, acting for an insured other than himself, shall be deemed to have authorized such broker to receive on its behalf payment of any premium which is due on such contract at the time of its issuance or delivery or payment of any installment of such premium or any additional premium which becomes due or payable thereafter on such contract, provided such payment is received by such broker within 90 days after the due date of such premium or installment thereof or after the date of delivery of statement by the insurer of such additional premium. L.1966, c. 50, s. 1, eff. May 24, 1966.
NJ Rev Stat § 17:22-6.14a1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.14a1 - Property and casualty insurers; filing of current underwriting guidelines

17:22-6.14a1. Property and casualty insurers; filing of current underwriting guidelines  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.
NJ Rev Stat § 17:22-6.14a2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.14a2 - Notice of nonrenewal; identification of underwriting standards not met; liability for information to insurer as to reasons for nonrenewal

17:22-6.14a2. Notice of nonrenewal; identification of underwriting standards not met; liability for information to insurer as to reasons for nonrenewal  Where a policy of insurance is not renewed because of failure to meet the then current underwriting standards, the notice of nonrenewal shall identify the underwriting standard and specify in detail the factual basis upon said underwriting standard has not been met. There shall be no liability on the part of and no cause of action of any nature shall arise against the Commissioner of Insurance or against any insurer, its authorized representative, its agents, its employees, or any firm, person or corporation furnishing to the insurer information as to reasons for nonrenewal, for any statement made by any of them in any written notice of nonrenewal, or in any other communication, oral or written specifying the reasons for nonrenewal, or the providing of information pertaining thereto, or for statements made or evidence submitted at any hearings conducted in connection therewith. L.1971, c. 152, s. 3, eff. May 20, 1971.
NJ Rev Stat § 17:22-6.14a3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.14a3 - Rules and regulations by commissioner of insurance

17:22-6.14a3. Rules and regulations by commissioner of insurance  The Commissioner of Insurance is authorized to adopt, promulgate and enforce such rules and regulations as he determines to be necessary to implement this act. L.1971, c. 152, s. 4, eff. May 20, 1971.
NJ Rev Stat § 17:22-6.14b (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.14b - Severability

17:22-6.14b. Severability  If any section, subsection, subdivision, paragraph, sentence or clause of this act is held invalid or unconstitutional, such decision shall not affect the remaining portions of this act, and to this end the provisions of this act are declared to be severable. L.1970, c. 217, s. 2, eff. Oct. 13, 1970.
NJ Rev Stat § 17:22-6.26 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.26 - Repeals

17:22-6.26. Repeals  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 one of "An act concerning the licensing of agents for insurance companies in certain cases, supplementing chapter twenty-two of Title 17, and amending section 17:33-1 of the Revised Statutes" , approved May sixteenth, one thousand nine hundred and forty-one and all acts or parts of acts inconsistent herewith are repealed. L.1944, c. 175, p. 675, s. 26, eff. May 2, 1944.
NJ Rev Stat § 17:22-6.35 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.35 - Repeal

17:22-6.35. Repeal  Section 17:36-1 of the Revised Statutes is repealed. L.1948, c. 462, p. 1900, s. 8.
NJ Rev Stat § 17:22-6.37 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.37 - Acting for unauthorized companies; prohibition; exceptions

17:22-6.37. Acting for unauthorized companies; prohibition; exceptions  No person shall in this State directly or indirectly act as agent for, or otherwise represent or aid on behalf of another, any insurer not then authorized to transact such insurance in this State, in the solicitation, negotiation, procurement or effectuation of insurance or annuity contracts, or renewals thereof, or in the dissemination of information as to coverage or rates, or forwarding of applications, or delivery of policies or contracts, or inspection of risks, or fixing of rates, or investigation or adjustment of claims or losses, or collection or forwarding of premiums, or in any other manner represent or assist such an insurer in the transaction of insurance with respect to subjects of insurance resident, located or to be performed in this State. Except that, the holder of an insurance broker's license shall have authority on behalf of a prospective assured to negotiate and deal with a surplus lines agent to effect any such transaction, collect the insurance premium therefor from the assured, and receive from the said surplus lines agent a share of any commission or brokerage fee earned by the said surplus lines agent in connection therewith. This section does not apply to: (a) Matters authorized to be done by the commissioner under the unauthorized insurers process law, (N.J.S.A. 17:51-1 et seq.); (b) Surplus lines insurance when written pursuant to the surplus lines law; (c) Transactions as to which a certificate of authority is not required of an insurer under the insurance laws of the State of New Jersey; (d) Reinsurance effectuated in accordance with the laws of New Jersey; (e) Railroad or aviation risks engaged in interstate or international commerce; (f) Insurances of vessels, crafts or hulls, cargoes, marine builders' risks, marine protection and indemnity or other risks including strikes and war risks commonly insured under ocean or wet marine forms of policy. No insurance contract entered into in violation of this section shall be deemed to have been rendered invalid thereby. L.1960, c. 32, p. 105, s. 3. Amended by L.1963, c. 189, s. 1.
NJ Rev Stat § 17:22-6.38 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.38 - Violation; misdemeanor; penalties

17:22-6.38. Violation; misdemeanor; penalties  Any person who in this State represents or aids an unauthorized insurer in violation of section 3 of this act shall upon conviction thereof be guilty of a misdemeanor. In addition to the penalty provided for herein such violator shall be liable, personally, jointly and severally with any other person or persons liable therefor, for payment of taxes payable on account of such insurance as if such insurance were independently procured. L.1960, c. 32, p. 106, s. 4.
NJ Rev Stat § 17:22-6.39 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.39 - Actions or proceedings by unauthorized insurers prohibited; exceptions

17:22-6.39. Actions or proceedings by unauthorized insurers prohibited; exceptions  No unauthorized insurer shall institute, file, or maintain, or cause to be instituted, filed, or maintained, any suit, action or proceeding in this State to enforce any right, claim or demand arising out of any insurance transaction in this State except with respect to the following: (1) Investigation, settlement, or litigation of claims under its policies lawfully written in this State, or liquidation of assets and liabilities of the insurer (other than collection of new premiums), all as resulting from its former authorized operations in this State; (2) Transactions involving a policy, subsequent to issuance thereof, covering only subjects of insurance not resident, located or expressly to be performed in this State at time of issuance, and lawfully solicited, written, or delivered outside this State; or railroad or aviation risks engaged in interstate or international commerce and insurances of vessels, crafts or hulls, cargoes, marine builders' risks, marine protection and indemnity or other risks including strikes and war risks commonly insured under ocean or wet marine forms of policy; (3) Transactions pursuant to surplus lines coverages lawfully written under subtitle 3 of this Title; (4) Reinsurance effectuated in accordance with the laws of New Jersey; (5) The continuation and servicing of life insurance or disability insurance policies or annuity contracts remaining in force as to residents of this State where the insurer has withdrawn from the State and is not transacting new insurance therein. L.1960, c. 32, p. 106, s. 5. Amended by L.1963, c. 189, s. 2.
NJ Rev Stat § 17:22-6.40 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.40 - Short title; application of act

17:22-6.40. Short title; application of act  Sections 6 through 31 of this act (C. 17:22-6.40 through 17:22-6.65) constitute and may be referred to as "the surplus lines law." This act does not apply to life insurance companies writing life insurance, accident and health insurance and annuities, nor to risks insured under exceptions (e) and (f) of section 3 of this act (C 17:22-6.37), nor to insurance coverages which are independently procured as provided in section 30 (C. 17:22-6.64) of this act. L.1960, c. 32, p. 107, s. 6. Amended by L.1963, c. 189, s. 3; L.1973, c. 22, s. 3, eff. Feb. 8, 1973.
NJ Rev Stat § 17:22-6.41 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.41 - Definitions relative to surplus lines insurers.

17:22-6.41 Definitions relative to surplus lines insurers.  7. As used in this surplus lines law: (a) "Surplus lines agent" means an individual licensed as a surplus lines insurance producer with surplus lines authority as provided in P.L.2001, c.210 (C.17:22A-26 et seq.) to handle the placement of insurance coverages on behalf of unauthorized insurers. (b) "Surplus lines insurer" means an unauthorized insurer in which an insurance coverage is placed or may be placed under this surplus lines law. (c) To "export" means to place in an unauthorized insurer under this surplus lines law, insurance covering a subject of insurance resident, located, or to be performed in New Jersey. (d) "Commissioner" means the Commissioner of Banking and Insurance of the State of New Jersey. (e) "Certificate of insurance" means permanent evidence of insurance on a form approved by the commissioner and issued by a surplus lines agent who has filed evidence of his binding authority with the commissioner on behalf of an alien insurer. When issued other than on behalf of an alien insurer, an initial certificate of insurance will be treated as temporary evidence of insurance, pending the issuance of a policy. "Certificate of insurance" also means evidence of a renewal of that insurance provided: (1) there is no change in the terms or amounts of coverage; (2) the coverage is still eligible for export; and (3) the insured may request the issuance of a new policy. (f) "Cover note," "binder" or "confirmation of insurance," means temporary evidence of insurance, to be replaced by a policy or certificate of insurance. (g) "Home state" means, (1) Except as provided in paragraph (2) of this subsection, the term ''home state'' means, with respect to an insured: (i) the state in which an insured maintains its principal place of business or, in the case of an individual, the individual's principal residence; or  (ii) if 100 percent of the insured risk is located out of the state referred to in subparagraph (i) of this paragraph, the state to which the greatest percentage of the insured's taxable premium for that insurance contract is allocated. (2) If more than one insured from an affiliated group are named insureds on a single nonadmitted insurance contract, the term ''home state'' means the home state, as determined pursuant to subparagraph (i) of paragraph (1) of this subsection, of the member of the affiliated group that has the largest percentage of premium attributed to it under that insurance contract. L.1960, c.32, s.7; amended 1981, c.250, s.1; 1996, c.69, s.1; 2011, c.119, s.1.
NJ Rev Stat § 17:22-6.43 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:22-6.43 - Eligibility for export of insurance coverage; conditions

17:22-6.43. Eligibility for export of insurance coverage; conditions  9. No insurance coverage shall be eligible for export unless it meets all of the following conditions: (a) The insurance coverage required must not be procurable, after a diligent effort has been made to do so, from among the insurers authorized to transact that kind and class of insurance in this State, and the insurance coverage exported shall be only that coverage not so procurable from authorized insurers, provided, however, that associated commercial general liability and commercial property coverages may be exported along with such unprocurable coverage; and (b) The premium rate at which the coverage is exported shall not be lower than the lowest rate which has been filed by or on behalf of any authorized insurer, provided, however, that any reduction in coverage or limits as compared to policies filed by authorized insurers may be exported at a commensurate reduction in premium rate. (c) (Deleted by amendment, P.L.2003, c.179.) Except, that the commissioner shall by rules and regulations declare eligible for export generally and notwithstanding the provisions of subsections (a)and (b) above, any class or classes of insurance coverage or risk for which he finds, after a hearing, which he shall hold annually or more often, of which notice thereof was given to each insurer authorized to transact such class or classes in this State, that there is no reasonable or adequate market among authorized insurers. The notice of such hearing shall provide interested parties with the opportunity to present relevant information at the hearing for the commissioner's consideration. Any such rules and regulations shall continue in effect during the existence of the conditions upon which predicated, but subject to earlier termination by the commissioner. The commissioner shall notify all surplus lines agents of such termination. L.1960,c.32,s.9;amended 1996, c.69, s.3; 2003, c.179, s.2.