Title 17B, Title 17B: INSURANCE

17B:37-13 Eligibility of states to join compact. 13. a. Any state is eligible to become a compacting state. b. The compact shall become effective and binding upon legislative enactment of the compact into law by two compacting states; however, the commission shall become effectiv…

17B:37-14 Withdrawal, termination, reinstatement. 14. a. (1) Once effective, the compact shall continue in force and remain binding upon each compacting state; however, a compacting state may withdraw from the compact by repealing the statute which enacted the compact into law. (…

17B:37-15 Severability; liberal construction. 15. a. The provisions of this act shall be severable; and if any phrase, clause, sentence, or provision is deemed unenforceable, the remaining provisions of this act shall be enforceable. b. The provisions of this act shall be liberal…

17B:37-16 Enforcement of laws of compacting state unaffected. 16. a. (1) Nothing herein shall prevent the enforcement of any other law of a compacting state, except as provided in subsection b. of this section. (2) For any product approved or certified by the commission, the rule…

17B:37-17 Report to Legislature. 17. The Commissioner of Banking and Insurance shall report to the Legislature, as provided pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), within one year of the effective date of this act or within one year of the operational date of the…

17B:37-2 Definitions relative to the "Interstate Insurance Product Regulation Compact." 2. For the purposes of this act: "Advertisement" means any material designed to create public interest in an insurance product, or induce the public to purchase, increase, modify, reinstate, b…

17B:37-3 "Interstate Insurance Product Regulation Commission." 3. a. The compacting states hereby create and establish a joint public agency known as the "Interstate Insurance Product Regulation Commission." Pursuant to section 4 of this act, the commission shall develop uniform …

17B:37-4 Powers of commission. 4. The commission shall have the following powers: a. To promulgate rules, pursuant to section 7 of this act, which shall have the force and effect of law and shall be binding in the compacting states to the extent and in the manner provided in this…

17B:37-5 Membership of commission; organization; bylaws. 5. a. (1) Each compacting state shall have and be limited to one member of the commission. Each member shall be qualified to serve in that capacity pursuant to the applicable law of the compacting state. Any member may be r…

17B:37-6 Meetings, actions. 6. a. The commission shall meet and take those actions consistent with the provisions of this act and the bylaws. b. Each member of the commission shall have the right and power to cast a vote to which that compacting state is entitled, and to particip…

17B:37-7 Rules, uniform standards, operating procedures. 7. a. The commission shall promulgate reasonable rules, including uniform standards and operating procedures, in order to effectively and efficiently achieve the purposes of this act. Notwithstanding the foregoing, if the c…

17B:37-8 Rules establishing conditions, procedures for public inspection, copying of information and official records. 8. a. The commission shall promulgate rules establishing conditions and procedures for public inspection and copying of its information and official records, exc…

17B:37-9 Resolution of disputes, issues subject to compact. 9. The commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to the compact and which may arise between two or more compacting states, or between compacting stat…