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

17:21-3. Election of directors of benefit companies All elections of directors of any stock insurance company of this state incorporated by special charter, whose object is to assist its sick or needy members, or aid in defraying funeral expenses of deceased members and make prov…

17:22-5.2. Effective date This act shall take effect May first, one thousand nine hundred and forty-two. L.1941, c. 118, p. 267, s. 3.

17:22-6.14a Rates of commission to be set forth in contracts; exceptions; termination of contracts. 1. a. In the event that a policy is canceled by the insurer, either at its own behest or at the behest of the agent or broker of record, the unearned premium, including the unearne…

17:22-6.14a1. Property and casualty insurers; filing of current underwriting guidelines All property and casualty insurers doing business in New Jersey shall, upon request of the Commissioner of Insurance, file with the Department of Insurance a copy of their current underwriting…

17:22-6.14a2. Notice of nonrenewal; identification of underwriting standards not met; liability for information to insurer as to reasons for nonrenewal Where a policy of insurance is not renewed because of failure to meet the then current underwriting standards, the notice of non…

17:22-6.14a3. Rules and regulations by commissioner of insurance The Commissioner of Insurance is authorized to adopt, promulgate and enforce such rules and regulations as he determines to be necessary to implement this act. L.1971, c. 152, s. 4, eff. May 20, 1971.

17:22-6.14b. Severability If any section, subsection, subdivision, paragraph, sentence or clause of this act is held invalid or unconstitutional, such decision shall not affect the remaining portions of this act, and to this end the provisions of this act are declared to be sever…

17:22-6.26. Repeals Sections 17:22-1, 17:22-2, 17:22-3, 17:22-4, 17:22-5, 17:23-3, 17:32-6, and 17:32-11 of the Revised Statutes and section one of "An act concerning the licensing of agents for insurance companies in certain cases, supplementing chapter twenty-two of Title 17, a…

17:22-6.2a. Authorization entitling broker to receive insurance premium on behalf of insurer Any insurer which delivers in this State to any insurance broker a contract of insurance (other than a contract of life insurance, or life, accident or health insurance) pursuant to the a…

17:22-6.35. Repeal Section 17:36-1 of the Revised Statutes is repealed. L.1948, c. 462, p. 1900, s. 8.

17:22-6.37. Acting for unauthorized companies; prohibition; exceptions No person shall in this State directly or indirectly act as agent for, or otherwise represent or aid on behalf of another, any insurer not then authorized to transact such insurance in this State, in the solic…

17:22-6.38. Violation; misdemeanor; penalties Any person who in this State represents or aids an unauthorized insurer in violation of section 3 of this act shall upon conviction thereof be guilty of a misdemeanor. In addition to the penalty provided for herein such violator shall…

17:22-6.39. Actions or proceedings by unauthorized insurers prohibited; exceptions No unauthorized insurer shall institute, file, or maintain, or cause to be instituted, filed, or maintained, any suit, action or proceeding in this State to enforce any right, claim or demand arisi…

17:22-6.40. Short title; application of act Sections 6 through 31 of this act (C. 17:22-6.40 through 17:22-6.65) constitute and may be referred to as "the surplus lines law." This act does not apply to life insurance companies writing life insurance, accident and health insurance…

17:22-6.41 Definitions relative to surplus lines insurers. 7. As used in this surplus lines law: (a) "Surplus lines agent" means an individual licensed as a surplus lines insurance producer with surplus lines authority as provided in P.L.2001, c.210 (C.17:22A-26 et seq.) to handl…

17:22-6.42. Procurement of surplus line coverages; conditions 8. If certain insurance coverages of subjects resident, located, or to be performed in this State cannot be procured from authorized insurers, such coverages, hereinafter designated "surplus lines," may be procured fro…

17:22-6.43. Eligibility for export of insurance coverage; conditions 9. No insurance coverage shall be eligible for export unless it meets all of the following conditions: (a) The insurance coverage required must not be procurable, after a diligent effort has been made to do so, …

17:22-6.44. Writing of coverages declared eligible for export without regard to rate filings An admitted insurer may write any insurance coverage declared eligible for export by the commissioner under section 9 of this act through any surplus lines agent without regard to rate fi…

17:22-6.45 Eligibility as surplus lines insurer. 11. No surplus lines agent shall place any coverage with any unauthorized insurer which is not then an eligible surplus lines insurer as provided for under this section. No unauthorized insurer shall be or become an eligible surplu…

17:22-6.46. Withdrawal of eligibility; grounds; notice If at any time the commissioner has reason to believe that any unauthorized insurer then on the list of eligible surplus lines insurers is insolvent, or in unsound financial condition, or that it is no longer eligible under t…

17:22-6.47. Submission of affidavit, certification to surplus lines agent 13. Within 30 business days after the effectuation of any surplus lines insurance the originating broker shall submit to the surplus lines agent an affidavit or certification by the broker, on a form prescr…

17:22-6.48. Surplus lines examining office The commissioner shall establish and maintain an office and such facilities as may reasonably be necessary to carry out the purposes of this act. This office shall be known as "The Surplus Lines Examining Office." In the operation of the…

17:22-6.49. Appropriation There is hereby appropriated to the Department of Banking and Insurance for the fiscal year 1959-60 the sum of $35,000.00 for the purpose of discharging the functions of the Surplus Lines Examining Office and the payment of salaries and expenses incurred…

17:22-6.50. Issuance and delivery of evidence of insurance Upon placing a surplus line coverage, the surplus lines agent shall promptly issue and deliver to the insured evidence of the insurance consisting either of the policy as issued by the insurer or, if such policy is not th…

17:22-6.50a. Certificate of insurance; contents Every certificate of insurance shall contain or have attached thereto a complete record of all policy insuring agreements, conditions, exclusions, clauses, endorsements or any other material facts that would regularly be included in…

17:22-6.52. Statement of surplus lines agent Each surplus lines agent through whom a surplus lines coverage is procured shall write or print on the outside of the policy and on any certificate, cover note, or other confirmation of the insurance his name, address and license numbe…

17:22-6.53. Validity of contracts procured from unauthorized insurers Insurance contracts procured as "surplus lines" coverages from unauthorized insurers in accordance with this law shall be fully valid and enforceable as to all parties. L.1960, c. 32, p. 116, s. 19.

17:22-6.54. Liability of insurer If the unauthorized insurer has assumed the risk as to a surplus lines coverage placed under this surplus lines law, and if the premium therefor has been received by the surplus lines agent who placed such insurance, then in all questions thereaft…

17:22-6.55a. Advisory organizations a. Advisory surplus lines organizations of surplus lines agents may be formed to: (1) facilitate and encourage compliance by its members with the laws of this State and the rules and regulations of the commissioner relative to surplus lines ins…

17:22-6.57. Record of surplus lines contracts procured 23. Each surplus lines agent shall keep in his office a full and true record of each surplus lines contract procured by him, including a copy of the daily report, if any, and showing such of the following items as may be appl…

17:22-6.58. Verified report of surplus lines insurance transacted 24. Each surplus lines agent shall within 45 calendar days after the end of each calendar quarter file with the commissioner a verified report in duplicate of all surplus lines insurance transacted by him during su…

17:22-6.59 Premium receipts tax for surplus lines coverage. 25. The premiums charged for surplus lines coverages are subject to a premium receipts tax of 5% of all gross premiums less any return premiums charged for such insurance. The surplus lines agent shall collect from the i…

17:22-6.60. Suit for tax If the tax payable by a surplus lines agent under this surplus lines law is not so paid within the time prescribed, the same shall be recoverable in a suit brought by the commissioner against the surplus lines agent and the surety or sureties on the bond …

17:22-6.61. Suspension, revocation, refusal to renew license of surplus lines agents 27. The commissioner may suspend, revoke, or refuse to renew the license of a surplus lines agent and all other licenses and permits held by the licensee under this Title, upon any one or more of…

17:22-6.62. Revocation for failure to file report or pay taxes; procedure; review If any licensed surplus lines agent fails to file the quarterly report required or pay the taxes as required of him under this surplus lines law, the commissioner shall issue an order directed to th…

17:22-6.63. Lawsuits against unauthorized insurer 29. An unauthorized insurer which has not been made eligible as a surplus lines insurer by the commissioner in accordance with section 11 of P.L.1960, c.32 (C.17:22-6.45) may be sued upon any cause of action arising in this State …

17:22-6.64 Report of insurance through unauthorized foreign, alien insurer. 30. Every insured who in this State procures or causes to be procured or continues or renews insurance with an unauthorized foreign or alien insurer, or any insured or self-insurer who procures or continu…

17:22-6.65. Production of records and information upon order of commissioner Every person by or as to whom insurance is procured or placed in an unauthorized insurer, upon the commissioner's order shall produce for his examination all policies and other documents evidencing the i…

17:22-6.66. Partial invalidity If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operatio…

17:22-6.67. Effective date This action shall take effect immediately except that sections 1 and 2 shall not take effect until November 1, 1960. L.1960, c.32, p. 125, s.33.

17:22-6.68. Repeal Section 21 of "An act relating to the licensing, regulation and supervision of insurance agents, insurance brokers and insurance solicitors, supplementing chapters 22, 32 and 36 of Title 17 of the Revised Statutes and repealing sections 17:22-1, 17:22-2, 17:22-…

17:22-6.69. Repeal Sections 2, 3, 4, 5, 6 and 7 of "An act to amend and supplement "An act relating to the licensing, regulation and supervision of insurance agents, insurance brokers and insurance solicitors, supplementing chapters 22, 32 and 36 of Title 17 of the Revised Statut…

17:22-6.69a Short title. 1. Sections 1, 2 and 3 of this amendatory and supplementary act shall be known and may be cited as the "Reinsurance and Surplus Lines Stimulus and Enhancement Act." L.2011, c.39, s.1.

17:22-6.69b Designation as domestic surplus lines insurer. 2. a. Notwithstanding any other provision of law to the contrary, a domestic insurer possessing policyholder surplus of at least $15,000,000 may, pursuant to a resolution by its board of directors, and upon the written ap…

17:22-6.69c Notice to policyholder. 3. Whenever any insurance risk or any part thereof is placed with a domestic surplus lines insurer, the policy, binder, or cover note shall bear conspicuously on its face in boldface, the following notation: "Notice to policyholder: This policy…

17:22-6.69d Authority of commissioner to enter into compacts, agreements. 4. a. Notwithstanding the provisions of section 24, 25 or 30 of P.L.1960, c.32 (C.17:22-6.58, C.17:22-6.59 or C.17:22-6.64) or any other law to the contrary, the commissioner is authorized, subject to the p…