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17:46B-14. Statutory premium reserve |
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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: 46B-14. Statutory premium reserve 17: 46B-14. Statutory premium reserve a. Every domestic insurance company shall, in addition to other reserves, establish and maintain a reserve to be known as the " statutory premium reserve" for title insurance, which shall, at all times for all purposes, be deemed and shall constitute the unearned portions of premiums due or received and...
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shall be charged as a reserve liability of such title insurance company in determining its financial condition. b. The statutory premium reserve shall be retained and held by such title insurance company for the protection of the policyholders' interest until released as prescribed in section 15 f...
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