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17:32-14. Revocation of authority to do business |
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New Jersey Statutes (Unannotated) / NEW JERSEY GENERAL AND PERMANENT STATUTES (UPDATED THROUGH P.L.2023, c.256, and J.R.18) / TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE |
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17: 32-14. Revocation of authority to do business 17: 32-14. Revocation of authority to do business The authority of an insurance company of another state or foreign country may be revoked, after notice and hearing, if it fails to comply with any provision...
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of law obligatory upon it, or for any reason for which the commissioner may refuse to issue or renew its certificate of authority under section 17:32-2 of this Title, or when in the opinion the commissioner its condition is unsound, or its assets above its liabilities, exclusive of capital and...
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premiums or reinsurance reserve, are less than the minimum amount of capital and surplus or net assets required by this subtitle for admission to transact business in this State. Amended 1958,c.14,s.1. ...
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