17B:28A-5. Foreign or alien insurers; conditions for qualification to issue
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/nj/title-17b/chapter-28a/17b-28a-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No foreign or alien company shall deliver or issue for delivery within this State any policy of investment return assurance unless it is licensed to do life insurance business within this State, and the commissioner is satisfied that the applicable law and regulation of the company's state or country of domicile with respect to the issuance by it of policies of investment return assurance and its condition and methods of operation with respect to the issuance of such policies will not render its operation hazardous to the public or its policyholders in this State.
The commissioner may adopt rules and regulations concerning limitations on foreign or alien companies similar to those applied to domestic insurers.
L.1977, c. 374, s. 5, eff. Feb. 8, 1978.