17:27B-1 - Definitions
17:27B-1.Ā Definitions
As used in this act,
(1)Ā "Domestic insurer"Ā means a stock insurance company organized under theĀ laws of this State;
(2)Ā "Parent corporation"Ā means a corporation organized for any purpose under any law of this State or any other jurisdiction, which owns directly or indirectly at least 95% of the aggregate issued and outstanding shares of all classes of voting stock of a domestic insurer;
(3)Ā "Subsidiary insurer"Ā means a domestic insurer so owned by a parent corporation;Ā and
(4)Ā "Commissioner"Ā means the Commissioner of Insurance of New Jersey.
L.1971, c. 132, s. 1, eff. May 6, 1971.
Ā
As used in this act,
(1)Ā "Domestic insurer"Ā means a stock insurance company organized under theĀ laws of this State;
(2)Ā "Parent corporation"Ā means a corporation organized for any purpose under any law of this State or any other jurisdiction, which owns directly or indirectly at least 95% of the aggregate issued and outstanding shares of all classes of voting stock of a domestic insurer;
(3)Ā "Subsidiary insurer"Ā means a domestic insurer so owned by a parent corporation;Ā and
(4)Ā "Commissioner"Ā means the Commissioner of Insurance of New Jersey.
L.1971, c. 132, s. 1, eff. May 6, 1971.
Ā
Scroll for next New Jersey statuteā¦