Title 17B, Title 17B: INSURANCE

17B:32A-13 Association subject to examination, regulation 13. The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner each year, not later than 120 days after the close of the association's fiscal…

17B:32A-14. Association exempt from fees, taxes 14. The association shall be exempt from payment of all fees and all taxes levied by this State or any of its subdivisions, except taxes levied on real property. L.1991,c.208,s.14.

17B:32A-15. Immunity from liability 15. a. There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer or its agents or employees, the association or its agents or employees, members of the board of directors, or the co…

17B:32A-16. Stay of proceedings involving insolvent insurer 16. Upon application and notice, all proceedings in which an insolvent insurer is a party or is obligated to defend a party in any court in this State shall be stayed for 180 days and any additional time thereafter as ma…

17B:32A-17. Association shall not be used to promote insurance sales 17. a. No person, including a member insurer, agent or affiliate of a member insurer or insurance producer shall make, publish, disseminate, circulate or place before the public or cause directly or indirectly, …

17B:32A-18. Member insurer may offset assessments against premium tax liability 18. a. A member insurer may offset against its premium tax liability, attributable to premiums written in that year, and determined pursuant to section 1 of P.L.1945, c.132 (C.54:18A-1), any assessmen…

17B:32A-19. Provisions not applicable to certain insurers 19. a. The provisions of P.L.1991, c.208 (C.17B:32A-1 et seq.) prior to the effective date of P.L.2022, c.98 (C.17B:32A-2 et al.) shall apply to all matters relating to any impaired insurer or insolvent insurer as defined …

17B:32A-2 Purpose; protection from hardship. 2. a. The purpose of P.L.1991, c.208 (C.17B:32A-1 et seq.) is to protect, subject to certain limitations, those persons specified in subsection a. of section 3 of P.L.1991, c.208 (C.17B:32A-1 et seq.) from hardship because of the impai…

17B:32A-3. Provision of coverage 3. a. P.L.1991, c.208 (C.17B:32A-1 et seq.) shall provide coverage, for the policies and contracts specified in subsection b. of this section, to: (1) persons who, regardless of where they reside (except for nonresident certificate holders under g…

17B:32A-4. Definitions 4. As used in P.L.1991, c.208 (C.17B:32A-1 et seq.): "Account" means either of the two accounts created under subsection b. of section 5 of P.L.1991, c.208 (C.17B:32A-5). "Association" means the New Jersey Life and Health Insurance Guaranty Association crea…

17B:32A-5. New Jersey Life and Health Insurance Guaranty Association created 5. a. There is created a nonprofit legal entity to be known as the New Jersey Life and Health Insurance Guaranty Association. All member insurers shall be and remain members of the association as a condi…

17B:32A-6. Board of Directors of association 6. a. There shall be a board of directors of the association which shall consist of not less than seven nor more than eleven member insurers serving terms as established in the plan of operation. The members of the board shall be selec…

17B:32A-7. Powers of the association 7. a. If a member insurer is an impaired insurer, the association may, in its discretion, and subject to any conditions imposed by the association that do not unreasonably impair the contractual obligations of the impaired insurer, that are ap…

17B:32A-8. Member insurers assessed to provide funding for association 8. a. For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the member insurers, separately for each account, at such time …

17B:32A-9. Plan of operation 9. a. (1) The association shall submit to the commissioner a plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments t…