17B:18-50 - Payment of taxes, charges and fees prior to determination of invalidity
17B:18-50.Ā Payment of taxes, charges and fees prior to determination of invalidity
The directors of any domestic insurer are authorized to pay, and to appropriate money to pay, such taxes, charges and fees as have been or may be imposed against the property, business, income or franchises of such insurer byĀ the laws of this or any other State or jurisdiction in which such insurer isĀ doing business unless, prior to the payment of any such tax, charge or otherĀ fee, the law imposing the same shall have been expressly held invalid by theĀ State court having final appellate jurisdiction in the premises or by theĀ Supreme Court of the United States.
L.1971, c. 144, s. 17B:18-50.
Ā
The directors of any domestic insurer are authorized to pay, and to appropriate money to pay, such taxes, charges and fees as have been or may be imposed against the property, business, income or franchises of such insurer byĀ the laws of this or any other State or jurisdiction in which such insurer isĀ doing business unless, prior to the payment of any such tax, charge or otherĀ fee, the law imposing the same shall have been expressly held invalid by theĀ State court having final appellate jurisdiction in the premises or by theĀ Supreme Court of the United States.
L.1971, c. 144, s. 17B:18-50.
Ā