Title 17B, Title 17B: INSURANCE

17B:17-12.1. Change of domicile for insurers 2. a. An insurer that is formed under the laws of another state and is admitted to transact the business of insurance in this State may become a domestic insurer upon the commissioner's determination that the company has complied with …

17B:17-13. Misdemeanor to do business unless authorized a. No person shall act as an insurer in this State without complying with the applicable provisions of this Code. b. No person by himself, or by his brokers, agents, solicitors, surveyors, canvassers or other representatives…

17B:17-13.1 Charitable annuities. 17B:17-13.1. a. The commissioner may, in his discretion, issue a special permit to a qualified nonprofit domestic or foreign corporation or association organized without capital stock or not for profit, engaged solely in bona fide charitable, rel…

17B:17-14. General penalty Each violation of this Code as to which a penalty is not provided by another provision of this Code or by other applicable laws of this State shall be a misdemeanor, and may in addition to any prescribed applicable denial, suspension, or revocation of c…

17B:17-15. Conflict with other laws All laws and parts of laws of this State inconsistent with this Code are hereby superseded with respect to matters covered by this Code. L.1971, c. 144, s. 17B:17-15.

17B:17-16. Separability of provisions If any provision of this Code or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this Code which can be given effect without the invalid provision or a…

17B:17-17. Short title This act shall be known and may be cited as the "Life and Health Insurance Policy Language Simplification Act." L.1979, c. 167, s. 1, eff. Aug. 6, 1979.

17B:17-18. Purpose The purpose of this act is to establish minimum standards for language used in policies, contracts and certificates of life insurance, health insurance, annuity, credit life insurance and credit health insurance, delivered or issued for delivery in this State, …

17B:17-19. Definitions As used in this act: a. "Policy" or "policy form" means any policy, contract, certificate, or agreement of life or health insurance, including credit life insurance and credit health insurance, or annuity, delivered or issued for delivery in this State by a…

17B:17-2. Insurer defined "Insurer" includes every person engaged as indemnitor or contractor in the business of life insurance, health insurance or of annuity. L.1971, c. 144, s. 17B:17-2.

17B:17-20. Application of act; exclusions a. This act shall apply to all policies delivered or issued for delivery in this State by any company on or after the dates such forms must be filed or approved under this act, but nothing in this act shall apply to: (1) Any policy which …

17B:17-21. Policy forms a. In addition to any other requirements of law, no policy forms, except as stated in section 4, shall be delivered or issued for delivery in this State on or after the dates such forms must be filed or approved under this act, unless: (1) The text achieve…

17B:17-22. Issuance of policy forms after filing; construction with other laws Nothing in this act shall be construed to negate any law of this State permitting the issuance of any policy form after it has been on file for the time period specified. L.1979, c. 167, s. 6, eff. Aug…

17B:17-23. Flesch reading ease score; authorization of lower score The commissioner may authorize a lower score than the Flesch reading ease score required in section 5a. (1) whenever, in his sole discretion, he finds that a lower score: a. will provide a more accurate reflection…

17B:17-24. Content of policy forms; construction with other laws A policy form meeting the requirements of section 5a. shall be filed or approved notwithstanding the provisions of any other law which specifies the content of policies, if the policy form provides the policyholders…

17B:17-25. Date of application a. Except as provided in section 4, this act applies to all policy forms filed on or after 2 years after the effective date of this act. No policy form shall be delivered or issued for delivery in this State on or after 5 years after the effective d…

17B:17-26 Definitions relative to life insurance. 1. As used in this act: "Account" means any mechanism, whether denoted as a retained asset account or otherwise, whereby the settlement of proceeds payable to a beneficiary under a policy is accomplished by the insurer or an entit…

17B:17-27 Applicability of act. 2. a. This act shall apply to: (1) every policy issued by a domestic insurer in this State and any account established under or as a result of that policy; and (2) every policy delivered or issued for delivery in New Jersey by an authorized foreign…

17B:17-28 Use of death index by insurer. 3. a. Every insurer shall use the death index to cross-check every policy and account subject to this act no less frequently than on a semi-annual basis, except as specified in section 6 of this act. An insurer may perform the cross-check …

17B:17-29 Action of insurer upon receiving notice of death. 4. Upon receiving notification of the death of an insured or account holder or in the event of a match made by a death index cross-check pursuant to section 3 of this act, an insurer shall search every policy or account …

17B:17-3. Life insurance defined "Life insurance" is a policy or contract whereby an insurer is obligated to pay or allow a benefit of pecuniary value with respect to the cessation of human life. Life insurance includes also the granting of endowment benefits and optional modes o…

17B:17-30 Procedures to confirm death, location, notification of beneficiaries. 5. a. An insurer shall establish procedures to reasonably confirm the death of an insured or account holder and begin to locate beneficiaries within 90 days after the identification of a potential mat…

17B:17-31 Inapplicability of act. 6. This act shall not apply to: a. any account or policy issued to a group master policyholder in which the insurer does not maintain records on its administrative systems containing the information necessary to comply with the requirements of th…

17B:17-4. Health insurance defined "Health insurance" is a contract or agreement whereby an insurer is obligated to pay or allow a benefit of pecuniary value with respect to the bodily injury, disablement, sickness, death by accident or accidental means of a human being, or becau…

17B:17-5. Annuity defined "Annuity" is a contract not coming within the definition of life insurance as set forth in section 17B:17-3, or health insurance as set forth in section 17B:17-4, under which an insurer obligates itself to make periodic payments for a specified period of…

17B:17-5.1. Definitions; funeral insurance policies 24. a. As used in this section: "At need funeral arrangements" means funeral arrangements made with the survivors or personal representative of a person who has already died for that person's funeral. "Funeral arrangements" mean…

17B:17-6. Person defined "Person" includes any individual, insurer, company, association, organization, society, partnership, syndicate, trust, business trust, corporation and every legal entity. L.1971, c. 144, s. 17B:17-6.

17B:17-7. Domestic insurer, foreign insurer, alien insurer defined a. A "domestic" insurer is one formed under the laws of this State. b. A "foreign" insurer is one formed under the laws of a jurisdiction of the United States of America other than this State. c. An "alien" insure…

17B:17-8. State defined When used in context signifying a jurisdiction other than the State of New Jersey, "State" means any State, district, territory, commonwealth, or possession of the United States of America, and the Panama Canal Zone. L.1971, c. 144, s. 17B:17-8.

17B:17-9. Domicile defined The "domicile" of an insurer means: a. As to Canadian insurers, the province in which the insurer's head office is located. b. As to other alien insurers authorized to transact insurance in one or more States, as provided in section 17B:23-5c. c. As to …

17B:18-1. Scope of chapter This chapter shall be applicable only to domestic stock and domestic mutual insurers, authorized to do one or more of the kinds of business defined in sections 17B:17-3, 17B:17-4 and 17B:17-5, except as otherwise stated in section 17B:17-1. L.1971, c. 1…

17B:18-10. Election of directors of mutual insurer pursuant to provision in certificate of incorporation If the certificate of incorporation or charter of a mutual insurer, or any amendment thereto contains provisions for the election of directors in the manner set forth in secti…

17B:18-11. Nomination of candidates for director At least seven months before the day fixed for any election of directors, the board of directors shall by a vote of a majority of its number nominate a candidate for each office of director to be filled at such next ensuing electio…

17B:18-12. Death, withdrawal or incapacity of candidates for director In case of the death, withdrawal or incapacity of any candidate nominated by the board of directors prior to election, the board of directors shall by a vote of a majority of its number nominate a candidate in …

17B:18-13. Qualified voters; "policyholder" defined The qualified voters of the insurer shall consist of every policyholder who is 18 years of age or more and whose policy has been in force for at least 1 year. For the purposes of this section the term "policyholder" shall mean a…

17B:18-14. Elections of directors of mutual insurers; procedure, ballots Each qualified voter of the insurer at such election shall be entitled to cast one vote in person or by proxy. The president, or, in his absence, a vice-president of the insurer, shall preside at the electio…

17B:18-15. Nominations by others than board of directors; notice of election In case any nomination shall have been made by others than by the board of directors, the insurer shall cause notice of the time and place of the election and of the several nominations of candidates to …

17B:18-16. Canvass of votes; tie vote All ballots voted shall be received by the tellers subject to verification and ascertainment of the validity thereof and of the qualification of the voters, and, in the case of ballots voted by proxy, the respective proxy instruments shall be…

17B:18-17. Report of result of election At the conclusion of the canvass the tellers shall report in writing to the secretary of the corporation the result thereof and he shall thereupon make a certificate, duly sworn to, setting forth the result of the election as shown by such …

17B:18-18. Choosing of directors for mutual life insurers having in excess of ten million policies in force The directors of any mutual insurer of this State heretofore or hereafter incorporated pursuant to the provisions of the laws of this State which now or hereafter shall hav…

17B:18-19. Number of directors; appointment of public directors; ex officio directors Subject to the provisions of section 17B:18-21 as to the number of elected directors, the number of the directors of any such mutual insurer to which sections 17B:18-18 to 17B:18-28, inclusive, …

17B:18-2. Stock insurer defined A domestic stock insurer is an insurer incorporated in accordance with the laws of this State with its capital divided into shares and owned by its stockholders. L.1971, c. 144, s. 17B:18-2.

17B:18-20. Public directors; carry-overs; appointments; terms; vacancies; powers Each director of any such mutual insurer heretofore appointed as a public director in accordance with P.L.1953, chapter 156 and holding office as such on the effective day of this Code, shall continu…

17B:18-21. Elected directors; carry-overs; terms; vacancies Each director of any mutual insurer, other than its president and other than the chairman of the board if he is the chief executive officer and other than one appointed as a public director in accordance with the provisi…

17B:18-22. Elected directors; manner of electing The elected directors shall be elected in the manner provided in sections 17B:18-23 to 17B:18-27, inclusive, by the qualified voters of the corporation at the annual election of directors to be held on the date and at the place pre…

17B:18-23. Qualified voters; "policyholder" for purpose of election defined The qualified voters of the insurer shall consist of every policyholder who is 18 years of age or more and whose policy has been in force for at least 1 year. For the purposes of this section the term "po…