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Code · New Jersey · Title 17 — Notice and Publication · Chapter 49

17:49-5. Construction of terms

91 words·~1 min read·/nj/title-17/chapter-49/17-49-5

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Construction of terms, for the purposes of this act,
a. the business of insurance shall include the issuance of all kinds of endowment policies and annuity contracts;
b. the legal effect of an undertaking to pay the equivalent of money, or to do some act of value, except the furnishing of services, upon the happening of a certain or contingent event, shall be the same as an undertaking on the part of an insurer to pay a certain or an ascertainable sum of money.
L.1939, c. 188, p. 545, s. 5.
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