reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17B:19-5 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:19-5 - Calculations of policy and loss reserves for accident and health insurance.

17B:19-5. Calculations of policy and loss reserves for accident and health insurance.  17B:19-5. The commissioner shall annually make or cause to be made or shall annually require the insurer to make calculations of policy and loss reserves for accident and health insurance written by insurers authorized to write accident and health insurance in this State as defined in N.J.S.17B:17-4. The commissioner shall promulgate regulations establishing the minimum standards applicable to the valuation of accident and health insurance reserves. amended 1973, c.315, s.1; 1978, c.143, s.1; 1981, c.285, s.2; 2001, c.2, s.3; 2014, c.81, s.61.
NJ Rev Stat § 17B:19-7 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:19-7 - Abandonment of standard of valuation adopted

17B:19-7. Abandonment of standard of valuation adopted  Except in accordance with the provisions of section 17B:19-2, a life insurer shall not abandon the standard of valuation adopted for any outstanding policies if the reserve, calculated by the proposed standard, is less than the reserve calculated by the standard which is to be abandoned. L.1971, c. 144, s. 17B:19-7.
NJ Rev Stat § 17B:19-12 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:19-12 - Establishment of reserves using principle-based valuation.

17B:19-12 Establishment of reserves using principle-based valuation.  64. a. A company shall establish reserves using a principle-based valuation that meets the following conditions for policies or contracts as specified in the valuation manual: (1) Quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at a level of conservatism that reflects conditions that include unfavorable events that have a reasonable probability of occurring during the lifetime of the contracts. For policies or contracts with significant tail risk, reflects conditions appropriately adverse to quantify the tail risk. (2) Incorporate assumptions, risk analysis methods and financial models and management techniques that are consistent with, but not necessarily identical to, those utilized within the company's overall risk assessment process, while recognizing potential differences in financial reporting structures and any prescribed assumptions or methods. (3) Incorporate assumptions that are derived in one of the following manners: (a) The assumption is prescribed in the valuation manual. (b) For assumptions that are not prescribed, the assumptions shall: (i) Be established utilizing the company's available experience, to the extent it is relevant and statistically credible; or (ii) To the extent that company data is not available, relevant, or statistically credible, be established utilizing other relevant, statistically credible experience. (4) Provide margins for uncertainty including adverse deviation and estimation error, such that the greater the uncertainty the larger the margin and resulting reserve. b. A company using a principle-based valuation for one or more policies or contracts subject to this section as specified in the valuation manual shall: (1) Establish procedures for corporate governance and oversight of the actuarial valuation function consistent with those described in the valuation manual. (2) Provide to the commissioner and the board of directors an annual certification of the effectiveness of the internal controls with respect to the principle-based valuation. Such controls shall be designed to assure that all material risks inherent in the liabilities and associated assets subject to such valuation are included in the valuation, and that valuations are made in accordance with the valuation manual. The certification shall be based on the controls in place as of the end of the preceding calendar year. (3) Develop, and file with the commissioner upon request, a principle-based valuation report that complies with standards prescribed in the valuation manual. c. A principle-based valuation may include a prescribed formulaic reserve component. L.2014, c.81, s.64.
NJ Rev Stat § 17B:19-13 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:19-13 - Submission of certain data.

17B:19-13 Submission of certain data.  65. A company shall submit mortality, morbidity, policyholder behavior, or expense experience and other data as prescribed in the valuation manual. L.2014, c.81, s.65.
NJ Rev Stat § 17B:20-3 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:20-3 - Incidental acquisition of corporate stock or securities, construction of chapter

17B:20-3. Incidental acquisition of corporate stock or securities, construction of chapter  Nothing contained in this chapter shall be construed to prohibit an insurer from accepting or acquiring corporate stock or evidences of indebtedness or other securities or property: a. pursuant to a plan of reorganization approved or made effective by order of a court having jurisdiction over the property of a debtor, b. pursuant to a voluntary plan or agreement of reorganization, c. as payment on account of an existing indebtedness, d. as realization of collateral for a loan in default, e. received in connection with an investment by the insurer otherwise allowable as an investment by this chapter, or f. through the exercise of rights of conversion, warrants or rights to purchase stock, or pre-emptive rights to subscribe to stock, contained in or attached to a previously existing investment of such insurer. If any such stock, securities or property so received shall be of a kind or in an amount not otherwise allowable as an investment by this chapter, they shall be disposed of within 5 years from the time of their acquisition, unless the commissioner shall, for good cause shown, allow further time for the disposal thereof and then within the time so allowed. L.1971, c. 144, s. 17B:20-3.
NJ Rev Stat § 17B:20-5 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:20-5 - Securities of foreign country or property therein

17B:20-5. Securities of foreign country or property therein  Any domestic insurer lawfully doing business, directly or through any subsidiary, in any foreign country other than Canada, may also invest its funds, or permit such subsidiary to invest its funds, to an amount not exceeding 150% of the reserves and other obligations under outstanding policies of insurance issued or delivered in such foreign country by the insurer or such subsidiary, in securities properties and other investments in such foreign country substantially of the same character as that prescribed for authorized investments for the funds of the insurer under the laws of this State. L.1971, c. 144, s. 17B:20-5. Amended by L.1973, c. 372, s. 4.
NJ Rev Stat § 17B:20-6 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:20-6 - Reasonable and temporary additional restrictions

17B:20-6. Reasonable and temporary additional restrictions  Notwithstanding any of the provisions of this chapter, if it shall appear to the commissioner that by reason of investment conditions generally or the financial condition or investment portfolio content of any particular insurer or insurers (giving due regard to policyholders' protection afforded by its capital, surplus and reserves), the safety of the public or policyholders so warrants, he may, upon written notice, impose reasonable and temporary additional restrictions upon the type, class or permissible extent of investments which may be made by any domestic insurer or insurers subject to this chapter. Any insurer or insurers affected shall be entitled, upon application, to a departmental hearing for the purpose of determining whether such restriction should be modified or withdrawn. L.1971, c. 144, s. 17B:20-6.
NJ Rev Stat § 17B:20-7 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:20-7 - Securities of domestic insurers

17B:20-7. Securities of domestic insurers  17B:20-7. All securities of domestic insurers shall be held for safekeeping within the geographical limits of this State, except:  a. Securities deposited with public officials of other states, the District of Columbia, the United States Government, any territory or possession thereof, the Commonwealth of Puerto Rico, and foreign countries, to the extent required by the laws of the jurisdiction as a condition for authority to transact business;  b. Securities required as collateral for loans or as security for the performance of contracts;  c. Mortgages and evidences of indebtedness secured thereby, which are held for safekeeping in one or more offices operated by and under the direct control of an officer of the company;  d. Stock and other securities representing stock or convertible into stock, and options, warrants or rights to acquire stock;  e. Debt securities with a maturity of less than one year; f. Securities issued or guaranteed by the United States or any department or agency or instrumentality thereof; and  g. As long as there are held for safekeeping within the geographical limits of this State securities having a value of not less than $50,000,000.00, any other debt securities which are publicly traded.  This section shall not limit or prohibit: (1) the deposit of securities under transactions as provided in N.J.S.17B:20-3, or (2) the transmission of securities outside the State for the purpose of securing or recording title to the securities or to property, or for the purpose of the sale, exchange or alteration of the provisions of the securities, or for the collection of any payment due thereon, or (3) the holding of securities in the names of nominees authorized by the board of directors of such insurer, or by a committee of the board which is charged with the duty of supervising investments, or (4) the lending of securities to any institution upon adequate collateral security, or (5) the holding outside of the State, in The Depository Trust Company or any other depository institution approved by the Commissioner of Insurance, of securities which comprise all or part of a custodial account for which the fiduciary is a qualified bank pursuant to section 28 of P.L.1948, c.67 (C.17:9A-28) or is an association authorized to exercise fiduciary powers pursuant to subsection (19) of section 48 of P.L.1963, c.144 (C.17:12B-48).  L.1971, c.144; amended 1973,c.372,s.5; 1976,c.74,s.4; 1983,c.279,s.2; 1995,c.182,s.2.
NJ Rev Stat § 17B:20-8 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:20-8 - Valuation of securities; violations; penalties

17B:20-8. Valuation of securities; violations; penalties  17B:20-8. Except as otherwise required by the commissioner, securities held by insurers authorized to do business in this State shall be valued in accordance with the published valuation standards of the Securities Valuation Office of the National Association of Insurance Commissioners. Every insurer licensed to transact business in this State shall comply with the filing and valuation requirements of the Securities Valuation Office of the National Association of Insurance Commissioners or requirements established by the commissioner, as applicable, with respect to the valuation of securities. Any insurer that fails to comply with the provisions of this section shall be subject to a penalty of not less than $1,000 nor more than $5,000 for a first violation, and not less than $2,000 nor more than $10,000 for each subsequent violation.  L.1971, c.144; amended 1993,c.242,s.1.
NJ Rev Stat § 17B:21-1 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:21-1 - Annual statement; forms

17B:21-1. Annual statement; forms  17B:21-1. a. Every insurer transacting business in this State shall annually, on or before March 1, file with the commissioner a statement subscribed and sworn to by its president or the chairman of the board if he is the chief executive officer and secretary, or, in their absence, by two of its officers and by a qualified actuary, showing the financial condition at the close of business on December 31 of the year last preceding, and its business for that year in the format adopted by the National Association of Insurance Commissioners and in use at the time the statement is due. The annual statement shall be prepared in accordance with the annual statement instructions and the Accounting Practices and Procedures Manual adopted by the National Association of Insurance Commissioners, and all applicable provisions of law. Additionally, every insurer shall file quarterly statements in the format adopted by the National Association of Insurance Commissioners covering the periods ending on March 31, June 30 and September 30, which shall be filed within 45 days after each such date. Quarterly statements shall be confidential and shall not be subject to public inspection or copying pursuant to P.L.1963, c.73 (C.47:1A-1 et seq.). All statements shall be submitted in the form and contain any additional matters the commissioner prescribes.  b. The commissioner may also address any inquiries to the insurer or its officers in relation to its condition or affairs, or any matter connected with its transactions, and the officers of the insurer shall promptly reply in writing to all such inquiries. The commissioner may, for good cause, extend the time within which the statement or any part thereof may be filed. The annual and quarterly statements of an alien insurer shall embrace only its business and condition in the United States, and shall be subscribed and sworn to by its resident manager or principal representative in charge of its United States business.  c. If an insurer domiciled in this State makes a request in writing no more than 60 days prior to December 1, the commissioner shall annually, in the month of December, furnish to such insurer one or more blanks in the form of the statement adopted by the National Association of Insurance Commissioners and in use at the time furnished.  d. Insurers issuing both participating and nonparticipating policies shall make such separate statement of profits and losses, margins and expenses, with reference to each of such kinds of business, and showing the manner in which any general outlays of the insurer have been apportioned to each of such kinds of business, as may be required by the commissioner.  e. The commissioner shall have power to make from time to time such modifications and additions in such form and the matters contained therein as he may deem desirable or necessary to ascertain the condition and affairs of the insurer.  L.1971, c.144; amended 1993,c.242,s.2.
NJ Rev Stat § 17B:21-2 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:21-2 - Penalty for not filing annual statement; penalty for other violations

17B:21-2. Penalty for not filing annual statement; penalty for other violations  Any insurer neglecting to make and file its annual statement in the form and within the time provided by section 17B:21-1 of this Code shall forfeit $100.00 for each day's neglect, and, in addition thereto, pursuant to the provisions of the Administrative Procedure Act (P.L.1968, c. 410) and any rules adopted thereunder, the commissioner may revoke or suspend its authority to do business in this State. The penalty for each violation of this chapter, other than the failure of a company to file an annual statement, shall be a penalty not exceeding $1,000.00 for the first offense and not exceeding $2,000.00 for each succeeding offense. Said penalties shall be enforced and collected by the commissioner in the name of the State in a summary proceeding in accordance with the Penalty Enforcement Law (N.J.S. 2A:58-1 et seq.). A warrant may issue in lieu of a summons. L.1971, c. 144, s. 17B:21-2.
NJ Rev Stat § 17B:21-7 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:21-7 - Fees

17B:21-7. Fees  a. On filing any certificate, executed by an insurer of this State, in the department, there shall be paid to the commissioner, for the use of the State, fees as follows: (1) Certificate of incorporation, for each thousand dollars ($1,000.00) of the total amount of the capital stock authorized, but in no case less than twenty-five dollars ($25.00), twenty cents ($0.20). (2) Increase of capital stock, for each thousand dollars ($1,000.00) of the total increase authorized, but in no case less than twenty dollars ($20.00), twenty cents ($0.20). (3) Consolidation and merger of insurers, $20.00. (4) Extension of corporate existence, the same as required by this section for the original certificate of incorporation. (5) Dissolution of insurer, change of name, change of nature of business, or for amended certificates of incorporation (other than those authorizing increase of capital stock), decrease of capital stock, increase or decrease of par value of shares, $20.00. (6) In all cases where several amendments are contained in one certificate, for each amendment, $20.00. (7) All certificates not hereby provided for, $5.00. b. The commissioner shall also charge and collect for his services under this subtitle, in addition to any other fees and charges due and payable into the State treasury for any of his official acts or services, and pay into the State treasury the following fees: (1) Filing the certified copy of the charter, deed of settlement or certificate of organization of an insurer of another State or foreign country, $20.00. (2) Filing the statement of any such insurer on admission, $20.00. (3) Filing each annual statement of each insurer, $20.00. (4) Each certificate of authority to an agent of an insurer, $5.00. (5) Computing the value of policies of insurers, $0.30 per $1,000.00 of value so computed for the first $1,000,000.00 of the value, $0.10 per thousand for the next $9,000,000.00, $0.05 per thousand for the next $240,000,000.00, $0.02 per thousand for the next $250,000,000.00 and $0.01 per thousand for that part of the value so computed in excess of $500,000,000.00, except that, until the time the fee so computed exceeds the fee paid for the 1930 valuation, the latter amount shall be paid instead. (6) Each certificate of valuation of the policies, $1.00. (7) Each certificate of the condition or qualification of an insurer, $1.00. (8) Each service of lawful process upon the commissioner as attorney, $10.00. (9) Each copy of any paper filed in the department, for each sheet or folio of 100 words, $0.20. (10) Certifying the same, $1.00. (11) For services in connection with deposits of securities by domestic insurers, the depositing insurer shall pay to the commissioner an annual fee of $15.00 on January 1 of each year and on each substitution of securities and clipping and forwarding of interest coupon an additional fee of $25.00. L.1971, c. 144, s. 17B:21-7.
NJ Rev Stat § 17B:23-1 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:23-1 - Translation of business by foreign and alien insurers

17B:23-1. Translation of business by foreign and alien insurers  17B:23-1. Any foreign insurer which by its charter or by the laws of the state in which it was incorporated, or any alien insurer which under the laws of the country or other jurisdiction in which it is organized, is authorized to write life insurance, annuities or health insurance or a combination thereof, may, if it meets the financial requirements of a similar domestic insurer set forth in sections 2 through 4 of P.L.1993, c.235 (C.17B:18-68 through C.17B:18-70), be admitted or continue to transact such authorized business in this State; provided that if an insurer is otherwise qualified therefor, the commissioner shall continue to so authorize any insurer which immediately prior to the effective date of this Code was lawfully authorized to write in this state a kind or kinds of insurance in addition to life insurance, annuities and health insurance.  L.1971, c.144; amended 1993,c.235,s.7.
NJ Rev Stat § 17B:23-2 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:23-2 - Prerequisites to admission

17B:23-2. Prerequisites to admission  No foreign or alien insurer shall be admitted until it: a. Files with the commissioner a certified copy of its charter or certificate of authority, and a statement of its financial condition and business, in the form and detail the commissioner requires, signed and sworn to by its president and secretary or other proper officer; b. Satisfies the commissioner that it is fully and legally organized under the laws of its State or country to do the business it proposes to transact; that its condition or methods of operation are not such as would render its operation hazardous to the public or its policyholders in this State; and that it meets the financial requirements specified in section 17B:23-1; c. Constitutes, by a duly executed instrument filed in the department, the commissioner and his successor in office its true and lawful attorney, upon whom all original process in any action or legal proceeding against it may be served, and therein agrees that any original process against it which may be served upon the commissioner shall be of the same force and validity as if served on the company, and that the authority thereof shall continue in force irrevocable so long as any liability of the company remains outstanding in this State. The insurer shall file a designation of the person to whom process against it served upon the commissioner is to be forwarded. The insurer may change such designation by a new filing; d. Obtains from the commissioner a certificate that it has complied with all the requirements of this code applicable to it and is authorized to transact business in this State. This certificate shall expire on May 1 of the following year, and shall be renewed each year before May 1; provided, that the commissioner may refuse to issue or renew any such certificate of authority if, in his judgment, such refusal will best protect the interests of the people of this State or if the company fails to comply substantially with any requirement or limitation of this code applicable to it or any rule or regulation promulgated by the commissioner thereunder which in the judgment of the commissioner is reasonably necessary to protect the interests of the people of this State, but the commissioner may not refuse to renew any such certificate except after notice and hearing pursuant to the Administrative Procedure Act (P.L.1968, c. 410) and any rules adopted thereunder and provided, that all such certificates outstanding and in force at the date of the passage of this code shall continue in full force and effect until May 1 next following the approval of this code, unless sooner revoked by the commissioner; and provided, further, that no such certificate shall be issued by the commissioner if, in the judgment of the commissioner, the name of such company shall so closely resemble the name of any existing company authorized to transact business in this State as to be likely to mislead the public. L.1971, c. 144, s. 17B:23-2.
NJ Rev Stat § 17B:23-3 (2021)
2021 New Jersey Revised Statutes|Title 17B - Insurance|Section 17B:23-3 - Deposit by alien insurers

17B:23-3. Deposit by alien insurers  No alien insurer shall be admitted until, in addition to complying with the foregoing conditions, it has made a deposit or deposits with the insurance commissioner or other officer of a State or States of the United States, designated by the laws of such State or States to hold the same, of a total amount not less than $200,000.00, nor less than the capital required of a stock company of this State transacting the same kinds of business. The deposit or deposits must be in exclusive trust for the benefit and security of all the policyholders of the company in the United States, and shall be deemed for all purposes of this code the capital of the company making it. L.1971, c. 144, s. 17B:23-3.