N.J.S.A. 17B:28A-5 — Foreign or alien insurers; conditions for qualification to issue

17B:28A-5. Foreign or alien insurers; conditions for qualification to issue 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.

This is the verbatim text of N.J.S.A. 17B:28A-5, 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.