State Codes and Statutes

Statutes > New-jersey > Title-43 > Section-43-6a > 43-6a-22

43:6A-22.  Qualifications for life insurance company
    Any life insurance company must meet the following requirements in order to  qualify under section 21:

    a.  be licensed under the laws of the State of New Jersey to transact life and accidental death insurance;  and

    b.  the amount of its group life insurance in the State of New Jersey shall  at the time said insurance is to be purchased equal at least 1% of the total  amount of such group life insurance in the State of New Jersey in all life  insurance companies.

     L.1973, c. 140, s. 22, eff. May 22, 1973.