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17:50-9. Power to exchange contracts; insurance of trust property
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
...
17
:
50-9
.
Power
to
exchange
contracts
;
insurance
of
trust
property
17
:
50-9
.
Power
to
exchange
contracts
;
insurance
of
trust
property
(a) Any corporation now or hereafter organized under the laws of this State shall, in addition to the rights, powers and franchises specified in its...
... articles of incorporation, have full
power
and authority as a subscriber to
exchange
insurance
contracts
of the kind and character herein mentioned. The right to
exchange
such
contracts
is hereby declared to be incidental to the purposes for which such corporations are organized, and as much granted as the rights and powers expressly...
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