N.J.S.A. 17:30B-3 — Definitions

17:30B-3. Definitions As used in this act: a. "Commissioner" means the Commissioner of Insurance of this State; b. "Guaranty Association" means the New Jersey Property-Liability Insurance Guaranty Association, created under P.L.1974, c. 17 (C. 17:30A-1 et seq.); c. "Association" means a Special Joint Underwriting Association created pursuant to section 4; d. "Insolvent insurance company" means (1) an insurer admitted or authorized to transact the business of insurance in this State either at the time the policy was issued or when the insured event occurred, and (2) who is determined to be insolvent by a court of any competent jurisdiction; e. "Servicing carrier" means a carrier licensed to provide insurance of the kind specified in section 2 B. and designated by an association, with the approval of the commissioner, to assist an association in fulfilling its obligations. L.1974, c. 106, s. 3, eff. Sept. 19, 1974.

This is the verbatim text of N.J.S.A. 17:30B-3, 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.