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17:51A-5. Powers of supervision |
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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: 51A-5. Powers of supervision 17: 51A-5. Powers of supervision 5. During the period of supervision, the commissioner or his designated appointee shall serve as the administrative supervisor. The commissioner may prohibit the insurer from doing any of the following during...
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the period of supervision, without the prior approval of the administrative supervisor: a. Dispose of, convey or encumber any of its assets or its business in force; b. Withdraw...
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