Title 17, Title 17: CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

17:50-13. Fees and taxes Such exchanges shall be subject to the same fees and taxes as are provided by the laws of this State, now or hereafter enacted, applicable to insurance companies organized or admitted to do the same kind or kinds of business under the laws of this State. …

17:50-14. Application of law as to appointment, licensing, etc., of insurance agents and solicitors The provisions of the general insurance laws of this State regarding the appointment, licensing, qualification and regulation of insurance agents and solicitors shall not apply to …

17:50-15. Application of laws governing insurance rates and licensing of rate making organizations The provisions of the laws of this State regulating the making and applying of insurance rates and providing for the licensing of rating organizations, being chapter twenty-seven, l…

17:50-16. Workmen's compensation insurance, authority to exchange contracts Employers are hereby expressly authorized to exchange contracts of workmen's compensation insurance, at any reciprocal exchange licensed in this State to do that kind of business, but all such exchanges s…

17:50-17. Retaliatory laws The retaliatory laws of this State set forth in section 17:32-12 of the Revised Statutes shall be applicable to reciprocal or inter-insurance exchanges. L.1945, c. 161, p. 562, s. 17.

17:50-18. Conflicting laws repealed All laws or parts of laws in conflict herewith are hereby repealed, insofar as they are in conflict with this act. L.1945, c. 161, p. 562, s. 18.

17:50-19. Partial invalidity In the event any section, part or provisions of this act is held to be illegal, the same shall not affect any other section, part or provisions of the act, but the remaining sections, parts and provisions shall be and remain in full force and effect. …

17:50-2. Attorney in fact; exchange Such contracts may be executed by an attorney in fact, herein designated "attorney," duly authorized and acting for such subscribers, and such attorney may be a corporation. The office or offices of such attorney, herein defined as an "exchange…

17:50-3. Declaration to be filed by attorney in fact Such attorney shall file with the Commissioner of Banking and Insurance of this State a declaration, verified by the oath of such attorney, or when such attorney is a corporation, by the oath of its president or oaths of its tr…

17:50-4. Instrument authorizing service of process on Commissioner of Banking and Insurance to be filed; service fee Concurrently with the filing of the declaration provided for by the terms of section three hereof, the attorney shall file with the Commissioner of Banking and Ins…

17:50-5. Reinsurance reserve; surplus; claim or loss reserve There shall be maintained at all times by the exchange, a reinsurance reserve in cash or securities authorized by the laws of the State in which the principal office of the attorney is located for the investment of simi…

17:50-6 General deposit with Commissioner; filing certificate by foreign exchange Each domestic exchange transacting business in this State shall keep and maintain with the Commissioner of Insurance a general deposit of cash or securities in the sum of not less than $100,000.00. …

17:50-7. Power of attorney; requisites; policies without contingent liability The power of attorney under which any contracts of insurance are exchanged pursuant to this act shall provide for a cash premium deposit and a contingent several liability of the subscriber during each …

17:50-8. Report of financial condition to Commissioner; examination of records, affairs and financial condition Such attorney shall, within the time limited for filing the annual statement by insurance companies, transacting the same kind of business, make a report, under oath, t…

17:50-9. Power to exchange contracts; insurance of trust property (a) Any corporation now or hereafter organized under the laws of this State shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority as a sub…