17B:17-20. Application of act; exclusions
273 words·~1 min read·
/nj/title-17b/chapter-17/17b-17-20·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 is a security subject to Federal jurisdiction;
(2)Any group policy covering a group of 50 or more lives at date of issue, other than a group credit life insurance policy or a group credit health insurance policy; however, this shall not exempt any certificate issued pursuant to a group policy delivered or issued for delivery in this State;
(3)Any group annuity contract which serves as a funding vehicle for pension, profit-sharing, or deferred compensation plans;
(4)Any form used in connection with, as a conversion from, as an addition to, or in exchange pursuant to a contractual provision for, a policy delivered or issued for delivery on a form filed, approved or permitted to be issued prior to the dates such forms must be filed or approved under this act; or
(5)The renewal of a policy delivered or issued for delivery prior to the dates such forms must be filed or approved under this act.
b. No other law of this State setting language simplification standards shall apply to any policy form.
c. Any non-English language policy delivered or issued for delivery in this State shall be deemed to be in compliance with this act if the insurer certifies that such policy is translated from an English language policy which does comply with this act.
L.1979, c. 167, s. 4, eff. Aug. 6, 1979.