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17:48E-52 Approval of plan, certificate of authority. |
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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: 48E-52 Approval of plan, certificate of authority. 17: 48E-52 Approval of plan, certificate of authority. 4. a. The commissioner shall approve the plan of conversion and issue a certificate of authority to the converted insurer to transact business in this State as a domestic stock insurer only if the commissioner finds all of the following: (1...
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The plan of conversion meets the requirements of sections 2 and 3 of this act. (2) Upon conversion, the converted insurer will meet the applicable standards and...
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conditions under this section, including applicable minimum capital and surplus requirements. (3) The plan of conversion adequately protects the existing contractual rights of subscribers. (4) The plan of conversion will promote the best interests of the health service corporation...
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