™Your Policy Risk Impact Agent
131 chapters · 3,637 sections in this title.
N.J.S.A. 17:27B-1 Definitions
0.6K chars
17:27B-1. Definitions As used in this act, (1) "Domestic insurer" means a stock insurance company organized under the laws of this State; (2) "Parent corporation" means a corporation organized for any purpose under any law of this State or any other jurisdiction, which owns direc…
N.J.S.A. 17:27B-2 Acquisition of minority interests
0.5K chars
17:27B-2. Acquisition of minority interests (1) Any parent corporation may, in the manner hereinafter prescribed, acquire all of the issued and outstanding shares of voting stock of its subsidiary insurer not owned by the parent corporation. (2) The method authorized by this act …
N.J.S.A. 17:27B-3 Plan of acquisition
1.6K chars
17:27B-3. Plan of acquisition (1) The board of directors of the parent corporation which seeks to acquire the minority interests in its subsidiary insurer shall adopt a plan for such acquisition. (2) The plan of acquisition shall set forth: (a) The name of the subsidiary insurer;…
N.J.S.A. 17:27B-4 Submission of plan of acquisition to commissioner
1.1K chars
17:27B-4. Submission of plan of acquisition to commissioner (1) Upon adoption of the plan of acquisition, it shall be executed by the parent corporation under its corporate seal and submitted to the commissioner who shall, within 60 days from the date of such submission, endorse …
