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Code · New Jersey · Title 17B — Insurance · Chapter 18

17B:18-45. Authority to acquire, hold and convey real estate

95 words·~1 min read·/nj/title-17b/chapter-18/17b-18-45·

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Any domestic insurer, in addition to the authority contained in sections 17B:20-1 to 17B:20-5, inclusive, may acquire, hold and convey any real estate as may be convenient in its operations, provided that if the commissioner shall determine after a hearing pursuant to the Administrative Procedure Act (P.L.1968, c. 410) and any rules adopted thereunder, that the interest of such insurer's policyholders requires that any specific real estate so acquired be disposed of, then such insurer shall dispose of such real estate within such reasonable time as the commissioner shall direct.
L.1971, c. 144, s. 17B:18-45.
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