17:24-9. Investment of surplus in stock of certain companies
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/nj/title-17/chapter-24/17-24-9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any company, other than a life insurance company, organized and authorized to transact business under chapters 17 to 33 of this title (s. 17:17-1 et seq.), may also invest not exceeding twenty-five per cent of its surplus in the common stock of any nondividend-paying insurance company or companies organized in and authorized to transact business in this state.