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17:35-1. Application of article |
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New Jersey Statutes (Unannotated) / NEW JERSEY GENERAL AND PERMANENT STATUTES (UPDATED THROUGH P.L.2023, c.228, and J.R.15) / TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE |
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17: 35-1. Application of article 17: 35-1. Application of article Any corporation organized to insure lives, which provides for the payment of policy claims, the accumulation of reserve or emergency funds, and the expense of...
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shall be deemed to be engaged in the business of life insurance upon the assessment plan, and be subject only to the provisions of this article. This article shall not apply to secret or fraternal societies conducting their business on the lodge system, or to associations organized solely for benevolent or charitable purposes...
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