reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:50-8 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-8 - Report of financial condition to Commissioner; examination of records, affairs and financial condition

17:50-8. Report of financial condition to Commissioner; examination of records, affairs and financial condition  Such attorney shall, within the time limited for filing the annual statement by insurance companies, transacting the same kind of business, make a report, under oath, to the Commissioner of Banking and Insurance of this State for each calendar year in such form as he may prescribe, showing the financial condition of affairs at the office where such contracts are issued, and shall at any reasonable time furnish such additional information and reports as may be required by said commissioner; provided, however, that the attorney shall not be required to furnish the names and addresses of any subscribers, except in the case of unpaid final judgments. The records, affairs and financial condition of the exchange shall be subject to examination by the Commissioner of Banking and Insurance of this State, and such examination shall be at the expense of the office examined. Where the principal office of the attorney is located in another State, the Commissioner of Banking and Insurance of this State may, in lieu of the examination provided for in this section, accept a certified copy of the report of examination made by the insurance department of the State where the principal office is located, or by the insurance department of any other State. L.1945, c. 161, p. 559, s. 8.
NJ Rev Stat § 17:50-9 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-9 - Power to exchange contracts; insurance of trust property

17:50-9. Power to exchange contracts; insurance of trust property  (a) Any corporation now or hereafter organized under the laws of this State shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority as a subscriber to exchange insurance contracts of the kind and character herein mentioned. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized, and as much granted as the rights and powers expressly conferred. (b) All persons, firms or corporations holding property in trust may insure the same at a reciprocal exchange, and, in their representative capacity, may assume the liabilities and be entitled to the rights of a subscriber, but such trustees by so doing, shall not personally or individually be liable under the power of attorney executed on behalf of the trust. L.1945, c. 161, p. 560, s. 9.
NJ Rev Stat § 17:50-10 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-10 - Misdemeanor; solicitation of powers of attorney and applications for insurance contract; injunction; appointment of receiver

17:50-10. Misdemeanor; solicitation of powers of attorney and applications for insurance contract; injunction; appointment of receiver  Any attorney who shall exchange any contracts of insurance of the kind and character specified in this act, or any attorney or representative of such attorney who shall solicit or negotiate any applications for same, without the attorney first complying with the foregoing provisions, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be subjected to a fine of not less than $100.00 nor more than $1,000.00. The Superior Court shall have jurisdiction to restrain any violation of this act in an action brought for that purpose by the Commissioner of Banking and Insurance, and may appoint a receiver for such assets of any person, partnership, or association of persons as are actually employed in the conduct of business in violation of this act. For the purposes of organization, and upon issuance of permit by the Commissioner of Banking and Insurance of this State, and under such conditions as he may impose, powers of attorney and applications for such insurance contracts may be solicited without compliance with the provisions of this act, but no attorney or other person shall execute or issue any such contracts of insurance until all the provisions of this act shall have been complied with and certificate of authority issued by the Commissioner of Banking and Insurance. L.1945, c. 161, p. 560, s. 10. Amended by L.1959, c. 69, p. 185, s. 1.
NJ Rev Stat § 17:50-11 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-11 - Certificate of authority

17:50-11. Certificate of authority  Before issuing any such contracts in this State, the attorney shall procure from the Commissioner of Banking and Insurance of this State a certificate of authority showing that the exchange has complied with all the requirements of this act and is authorized to transact business in this State, which said certificate shall expire on the first day of May of the following year, and shall be renewed each year as of the first day of May thereof. Such certificate shall specify the name or designation under which such contracts of insurance are issued. The Commissioner of Banking and Insurance of this State may, after hearing, revoke or suspend any certificate of authority issued hereunder in the case of violation of any of the provisions of this act, after reasonable notice has been given such attorney in writing, so that he may appear and show cause why such action should not be taken. L.1945, c. 161, p. 561, s. 11.
NJ Rev Stat § 17:50-12 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-12 - Authority of attorney to insert in policy provisions or conditions

17:50-12. Authority of attorney to insert in policy provisions or conditions  The attorney may insert in any form of policy prescribed by the laws of this State or adopted by this State any provisions or conditions required by the plan of reciprocal or inter-insurance; provided, however, that same shall not be in conflict with the laws of this State. L.1945, c. 161, p. 561, s. 12.
NJ Rev Stat § 17:50-13 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-13 - Fees and taxes

17:50-13. Fees and taxes  Such exchanges shall be subject to the same fees and taxes as are provided by the laws of this State, now or hereafter enacted, applicable to insurance companies organized or admitted to do the same kind or kinds of business under the laws of this State. L.1945, c. 161, p. 561, s. 13.
NJ Rev Stat § 17:50-14 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-14 - Application of law as to appointment, licensing, etc., of insurance agents and solicitors

17:50-14. Application of law as to appointment, licensing, etc., of insurance agents and solicitors  The provisions of the general insurance laws of this State regarding the appointment, licensing, qualification and regulation of insurance agents and solicitors shall not apply to an exchange or its attorney, or executive officer of such attorney, if a corporation, but shall apply to any other person, partnership or corporation representing any such reciprocal or inter-insurance exchange in soliciting, negotiating or affecting of business in this State. L.1945, c. 161, p. 561, s. 14.
NJ Rev Stat § 17:50-15 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-15 - Application of laws governing insurance rates and licensing of rate making organizations

17:50-15. Application of laws governing insurance rates and licensing of rate making organizations  The provisions of the laws of this State regulating the making and applying of insurance rates and providing for the licensing of rating organizations, being chapter twenty-seven, laws of one thousand nine hundred and forty-four, approved March ninth, one thousand nine hundred and forty-four, effective March ninth, one thousand nine hundred and forty-four, shall apply to reciprocal or inter-insurance contracts, but nothing therein contained shall be construed to prohibit the return of savings or dividends to subscribers of policyholders. L.1945, c. 161, p. 562, s. 15.
NJ Rev Stat § 17:50-16 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-16 - Workmen's compensation insurance, authority to exchange contracts

17:50-16. Workmen's compensation insurance, authority to exchange contracts  Employers are hereby expressly authorized to exchange contracts of workmen's compensation insurance, at any reciprocal exchange licensed in this State to do that kind of business, but all such exchanges shall be subject to the provisions of the laws of this State relating to the business of workmen's compensation insurance and shall contribute and pay to the funds described in sections 34:15-94, 34:15-112, 34:15-113, 34:15-114 and 34:15-115 of the Revised Statutes in the same manner and to the same extent as mutual carriers engaged in the business of workmen's compensation insurance. L.1945, c. 161, p. 562, s. 16.
NJ Rev Stat § 17:50-17 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-17 - Retaliatory laws

17:50-17. Retaliatory laws  The retaliatory laws of this State set forth in section 17:32-12 of the Revised Statutes shall be applicable to reciprocal or inter-insurance exchanges. L.1945, c. 161, p. 562, s. 17.
NJ Rev Stat § 17:50-18 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-18 - Conflicting laws repealed

17:50-18. Conflicting laws repealed  All laws or parts of laws in conflict herewith are hereby repealed, insofar as they are in conflict with this act. L.1945, c. 161, p. 562, s. 18.
NJ Rev Stat § 17:50-19 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:50-19 - Partial invalidity

17:50-19. Partial invalidity  In the event any section, part or provisions of this act is held to be illegal, the same shall not affect any other section, part or provisions of the act, but the remaining sections, parts and provisions shall be and remain in full force and effect. L.1945, c. 161, p. 562, s. 19.
NJ Rev Stat § 17:51-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51-2 - Actions against unauthorized insurers; deposit or bond required before insurer may file pleading

17:51-2. Actions against unauthorized insurers; deposit or bond required before insurer may file pleading  (a) Before any insurer not authorized to transact business in this State shall file or cause to be filed any pleading or other paper in any action or proceeding instituted against it, such insurer shall either (1) deposit with the clerk of the court in which such action or proceeding is pending cash or securities or file with such clerk a bond with good and sufficient sureties, to be approved by the court, in an amount to be fixed by the court sufficient to secure the payment of any final judgment which may be rendered in such action; provided, however, that the court may in its discretion and after reasonable notice to the opposing party and upon a hearing make an order dispensing with such deposit or bond where the insurer shows to the satisfaction of the court that it maintains, in a State of the United States, funds or securities, in trust or otherwise, sufficient and available to satisfy any final judgment which may be entered in such action or proceeding; or (2) procure a certificate of authority to transact the business of insurance in this State. (b) Nothing in subsection (a) of this section is to be construed to prevent an insurer not authorized to transact business in this State from making a motion for summary judgment, or judgment on the pleadings, or to dismiss the complaint on the ground either (1) that such insurer has not done any of the acts enumerated in subsection (a) of section one, or (2) that the person on whom service was made pursuant to subsection (c) of section one was not doing any of the acts therein enumerated. L.1952, c. 330, p. 1056, s. 2. Amended by L.1953, c. 17, p. 300, s. 191.
NJ Rev Stat § 17:51-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51-3 - Inapplicability of act

17:51-3. Inapplicability of act  3. The provisions of this act shall not apply to any action or proceeding against any unauthorized insurer arising out of a contract of (a) Reinsurance effectuated in accordance with the laws of New Jersey; (b) Insurance placed with an unauthorized insurer made eligible for surplus lines by the commissioner pursuant to section 11 of P.L.1960, c.32 (C.17:22-6.45); (c) Aircraft insurance; (d) Insurance on property or operations of railroads engaged in interstate commerce; (e) Insurance against legal liability arising out of the ownership, operation or maintenance of any property having a permanent situs outside of this State; or (f) Insurance against loss of or damage to any property having a permanent situs outside this State; where such contract contains a provision designating the Commissioner of Insurance to be its true and lawful attorney upon whom may be served all lawful process in any action or proceeding instituted by or on behalf of an insured or beneficiary arising out of any such contract or where the insurer enters a general appearance in any such action or proceeding.L.1952,c.330,s.3; amended 1953, c.17, s.192; (repealed in part see N.J.S. 17B:36-3c); 1996, c.69, s.14.
NJ Rev Stat § 17:51-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51-4 - Partial invalidity

17:51-4. Partial invalidity  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. L.1952, c. 330, p. 1058, s. 4.
NJ Rev Stat § 17:51-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51-5 - Short title

17:51-5. Short title  This act shall be known as the Unauthorized Insurers' Process Act. L.1952, c. 330, p. 1058, s. 5.
NJ Rev Stat § 17:51B-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51B-1 - Definitions

17:51B-1. Definitions  1. For purposes of this act: "Commissioner" means the Commissioner of Insurance. "Insurer" means: (1) Any corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society or other person engaged in the business of insurance pursuant to Subtitle 3 of Title 17 of the Revised Statutes or Subtitle 3 of Title 17B of the New Jersey Statutes;  (2) Any medical service corporation operating pursuant to P.L.1940, c.74 (C.17:48A-1 et seq.);  (3) Any hospital service corporation operating pursuant to P.L.1938, c.366 (C.17:48-1 et seq.);  (4) Any health service corporation operating pursuant to P.L.1985, c.236 (C.17:48E-1 et al.); and  (5) Any dental service corporation operating pursuant to P.L.1968, c.305 (C.17:48C-1 et seq.).  "NAIC" means the National Association of Insurance Commissioners. "Qualified United States financial institution," (1) as used in subsection c. of section 3 of this act, means an institution that: (a) is organized or, in the case of a branch or agency office of a foreign banking organization in the United States, licensed, under the laws of the United States or any state thereof; (b) is regulated, supervised and examined by federal or state authorities having regulatory authority over banks and trust companies; and (c) has been determined by either the commissioner, or the Securities Valuation Office of the NAIC, to meet such standards of financial condition and standing as are considered necessary and appropriate to regulate the quality of financial institutions whose letters of credit will be acceptable to the commissioner; or (2) as used elsewhere in this act, means an institution that: (a) is organized or, in the case of a branch or agency office of a foreign banking organization in the United States, licensed, under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; and (b) is regulated, supervised and examined by federal or state authorities having regulatory authority over banks and trust companies.  L.1993,c.243,s.1.
NJ Rev Stat § 17:51B-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51B-3 - Reduction in liability for reinsurance ceded

17:51B-3. Reduction in liability for reinsurance ceded  3. A reduction in liability for the reinsurance ceded by an insurer which is domiciled in New Jersey, or which is either licensed in New Jersey or eligible to write surplus lines insurance in New Jersey and which in either case is domiciled in a state or country which does not employ standards regarding credit for reinsurance substantially similar, as determined by the commissioner, to those applicable under this act, shall be allowed in an amount not exceeding the liabilities carried by the ceding insurer and such reduction shall be in the amount of funds held by or on behalf of the ceding insurer, including funds held in trust for the ceding insurer, under a reinsurance contract with such assuming insurer as security for the payment of obligations thereunder, if such security is held in the United States subject to withdrawal solely by, and under the exclusive control of, the ceding insurer; or, in the case of a trust, held in a qualified United States financial institution subject to withdrawal solely by, and under the exclusive control of, the ceding insurer. This security shall be in the form of:  a. Cash; b. Securities listed by the Securities Valuation Office of the NAIC and qualifying as admitted assets;  c. Clean, irrevocable, evergreen, unconditional letters of credit issued or confirmed by a qualified United States financial institution no later than December 31st of the year for which the filing is being made, and in the possession of the ceding company on or before the filing date of its annual statement. Letters of credit meeting applicable standards of issuer acceptability as of the dates of their issuance or confirmation shall, notwithstanding the issuing or confirming qualified United States financial institution's subsequent failure to meet applicable standards of issuer acceptability, continue to be acceptable as security until their expiration, extension, renewal, modification or amendment, whichever occurs first, unless the issuer has been declared insolvent under applicable statutory or regulatory provisions; or  d. Any other form of security acceptable to the commissioner. L.1993,c.243,s.3.
NJ Rev Stat § 17:51B-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51B-4 - Rules, regulations

17:51B-4. Rules, regulations  5. The commissioner may promulgate rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), as may be necessary to effectuate the purposes of this act.  L.1993,c.243,s.5.
NJ Rev Stat § 17:51A-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51A-1 - Definitions

17:51A-1. Definitions  1. For the purposes of this act: "Commissioner" means the Commissioner of Insurance. "Department" means the Department of Insurance. "Insurer" means every person engaged as indemnitor, surety or contractor in the business of entering into contracts of insurance or of annuities, and authorized to do business in this State pursuant to Title 17 of the Revised Statutes or Title 17B of the New Jersey Statutes. Insurer shall also include any other entity subject to rehabilitation, liquidation, reorganization or conservation by the commissioner under the laws of this State.  "Exceeded its powers" means any of the following conditions: a. The insurer has refused to permit examination of its books, papers, accounts or affairs by the commissioner, his deputies, employees or duly commissioned examiners;  b. A domestic insurer has unlawfully or willfully removed from this State books, papers, accounts or records necessary for an examination of the insurer;  c. The insurer has failed to promptly comply with the applicable financial reporting statutes or rules and departmental requests relating thereto;  d. The insurer has failed to comply with an order of the commissioner to remedy a prohibited deficiency in its capital, capital stock or surplus;  e. The insurer is continuing to transact insurance or write business after its license has been revoked or suspended by the commissioner;  f. The insurer, by contract or otherwise, has unlawfully: (1) Totally reinsured its entire outstanding business; or (2) Merged or consolidated substantially its entire property or business with another insurer;  g. The insurer engaged in any transaction in which it is not authorized to engage under the laws of this State; or  h. The insurer has refused to comply with an order of the commissioner. L.1993,c.245,s.1.
NJ Rev Stat § 17:51A-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51A-2 - Application of act

17:51A-2. Application of act  2. The provisions of this act shall apply to: all domestic insurers; any other insurer doing business in this State whose state of domicile has asked the commissioner to apply the provisions of this act in regard to such insurer; and any other entity subject to rehabilitation, liquidation, reorganization or conservation by the commissioner under the laws of this State.  L.1993,c.245,s.2.
NJ Rev Stat § 17:51A-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:51A-3 - Administrative supervision of insurer

17:51A-3. Administrative supervision of insurer  3. a. An insurer may be subject to administrative supervision by the commissioner if upon examination or at any other time it appears in the commissioner's discretion that:  (1) The insurer's condition renders the continuance of its business hazardous to the public or to its insureds;  (2) The insurer has or appears to have exceeded its powers; (3) The insurer has failed to comply with the applicable provisions of the insurance statutes of this State, any administrative rules promulgated thereunder or any order of the commissioner;  (4) The business of the insurer is being conducted fraudulently; or (5) The insurer has consented to administrative supervision. b. If the commissioner determines that any of the conditions set forth in subsection a. of this section exist, the commissioner shall:  (1) Notify the insurer of his determination; (2) Furnish to the insurer a written list of actions to be taken by the insurer to abate the conditions giving rise to the determination; and  (3) Notify the insurer that it is under the supervision of the commissioner and that the commissioner is applying and effectuating the provisions of this act.  c. If placed under administrative supervision, the insurer shall have 60 days, or another period of time as designated by the commissioner, to comply with the requirements imposed by the commissioner.  d. If the conditions giving rise to the supervision still exist at the end of the supervision period specified in subsection c. of this section, the commissioner may, after notice and opportunity to be heard, extend such period.  e. If the commissioner determines that the conditions giving rise to the supervision have been sufficiently remedied, the commissioner shall release the insurer from supervision.  L.1993,c.245,s.3.