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Code · New Jersey · Title 17 — Notice and Publication · Chapter 37A

17:37A-19. Privilege of doing business; surcharge upon premiums

98 words·~1 min read·/nj/title-17/chapter-37a/17-37a-19

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For the privilege of doing property insurance business in this State, and in addition to all other requirements of law, every insurer authorized to write such insurance in this State shall be obligated to collect from the insured under any policy of basic property insurance, a surcharge upon the premium paid for said policy in an amount which shall be annually determined by the commissioner as hereinafter provided. This surcharge shall be collected by each insurer and paid over to the fund semiannually as provided for by the commissioner.
L.1968, c. 129, s. 19, eff. July 1, 1968.
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