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17B:18-6. Stipulations in stock subscriptions and applications
New Jersey Statutes (Unannotated) / NEW JERSEY GENERAL AND PERMANENT STATUTES (UPDATED THROUGH P.L.2023, c.256, and J.R.18) / TITLE 17B INSURANCE
...
17B
:
18-6
.
Stipulations
in
stock
subscriptions
and
applications
17B
:
18-6
.
Stipulations
in
stock
subscriptions
and
applications
Every subscription to the capital
stock
of a
stock
insurer shall contain the stipulation that no sum shall be used for commission, promotion or organization expenses in excess of a per cent of the...
... amount paid upon the
stock
subscription, to be named in the stipulation, in an amount to be named by the commissioner. Every subscription for
stock
and every application for insurance in the insurer made prior to the granting to the insurer by the commissioner of the certificate of authority shall...
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