New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 2 - INSURANCE GROUP › Subchapter 14 - PROCEDURES FOR THE CONDUCT OF VOTING ON A PLAN OF REORGANIZATION OF A DOMESTIC MUTUAL LIFE INSURER › Section 11:2-14.6 - Presumptions as to ballot validity

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In order to be counted as a vote cast, a paper ballot shall have, among other things, a valid signature. Absent challenge to any particular paper ballot, a ballot shall be presumed to have been executed by a person over the age of 18 at the time of execution and all signatures shall be presumed valid. In the event of a challenge, the following rules and presumptions shall govern in determining the validity of paper ballots:
1. A ballot shall not be rendered invalid solely because the signature is hand printed or written in pencil, or because the ballot bears a rubber stamp or facsimile signature;
2. Where the surnames of two or more joint owners are identical, they need not be repeated in the signature. For example, a ballot representing a policy in the name of "John Jones and Mary Jones" shall be valid if the ballot is signed as "John and Mary Jones" or as "John Jones and Mary";
3. Initials may be used for first and middle names, names may be used for first and middle initials, and first and middle names or initials may be added or omitted. Further, a ballot shall not be rendered invalid because the manner in which a policyholder signed the ballot constitutes a slight change or a variation in spelling from, but is phonetically similar to, the manner in which his or her name is maintained on the policyholder records of the insurer;
4. Titles such as Mr., Mrs., Ms., Miss or Dr. may be added or omitted without affecting the validity of a ballot;
5. The addition or omission of Jr. or Sr. or Roman or Arabic numerals after the signature shall not affect the validity of the ballot;
6. A person whose policy is issued in a maiden name or in a married name may sign a ballot with either the maiden name, married name, or both;
7. A ballot for a policy issued in the name of a guardian, trustee, conservator or committee may only be voted by such guardian, trustee, conservator, or committee, and shall not be rendered invalid solely because the fiduciary fails to designate his or her capacity on the ballot;
8. A ballot for a policy issued in the name of a voting policyholder, who is operating under guardianship, trusteeship, conservatorship or supervision of a committee, shall not be rendered invalid solely because it was signed by either the voting policyholder or such guardian, trustee, conservator or committee, whether or not the fiduciary designates his or her fiduciary capacity on the ballot;
9. A ballot signed by a person other than the voting policyholder, who is designated as "administrator," "executor" or words of like effect, shall not be invalidated solely because the signer has failed to enclose proof of death or copies of letters testamentary or of administration. Where a policy is issued in the name of an executor or administrator, a ballot signed by such person shall not be rendered invalid solely because the person signing has not indicated such capacity;
10. If a policy is issued in the name of a receiver, a ballot shall not be rendered invalid because the signer does not designate himself or herself as such. A ballot voted for a policy held by and under the control of a receiver shall not be rendered invalid solely because the name of the policyholder has not been changed to reflect the receivership, provided such receiver designates himself as such;
11. A ballot on which a voting policyholder is voting in more than one capacity (for example, in an individual capacity and in a fiduciary capacity) shall be rendered invalid if the voting policyholder does not specifically indicate that such ballot is being signed in all such capacities;
12. A ballot cast in respect of a corporation, association, church, temple, religious, educational, charitable, fraternal or social organization foundation, society or governmental unit shall be invalid if it is not signed by an officer or other person purporting to act in an official capacity on behalf of such entity. No corporate seal, attestation, or copy of bylaws or resolution conferring authority shall be necessary. If the name of such entity appears on the face of the ballot, failure to repeat such name as part of the signature shall not render the ballot invalid. A ballot shall be rendered invalid if it is signed on behalf of such entity without the signature of an individual purporting to act on behalf of such entity;
13. A ballot cast on behalf of a partnership which has been signed in the partnership name only, or in the partnership name by a general partner or other person purporting to act with authority, shall not be rendered invalid solely by reason of the form of signature; and
14. Except as otherwise specified in this subsection, where two or more persons are shown on the policyholder records of the insurer as the owners of a policy, whether fiduciaries, members of a partnership, joint tenants, tenants in common, tenants by the entirety, or otherwise, or if two or more persons have the same fiduciary relationship respecting the same policy, the ballot shall be rendered invalid, unless it has been executed by each of such persons; provided, however, that if the surnames of such persons are identical, the ballot may be executed by one of such persons in the manner permitted by (a)2 above.