N.J.S.A. 17:17A-1 — Insurer may acquire stock of or have common management with other insurers; restrictions

17:17A-1. Insurer may acquire stock of or have common management with other insurers; restrictions Any domestic insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer or insurers, or have a common management with any other insurer or insurers; provided, such retention, investment, acquisition or common management is not inconsistent with any other provisions of subtitle three of Title 17 of the Revised Statutes of New Jersey; and provided further, that by reason of such retention, investment or acquisition of such capital stock, or common management, the business of such insurers with the public shall not be conducted in a manner which substantially lessens competition generally in the business of insurance or creates a monopoly therein. L.1948, c. 157, p. 893, s. 1.

This is the verbatim text of N.J.S.A. 17:17A-1, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.