Section 17:44B-28 - Licensing of foreign, alien society

NJ Rev Stat § 17:44B-28 (2019) (N/A)

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17:44B-28. Licensing of foreign, alien society

28. No foreign or alien society shall transact business in this State without a license issued by the commissioner. Any foreign or alien society desiring admission to this State shall comply substantially with the requirements and limitations of this act applicable to domestic societies. Any foreign or alien society may be licensed to transact business in this State upon filing with the commissioner:

a. A duly certified copy of its articles of incorporation;

b. A copy of its bylaws, certified by its secretary or corresponding officer;

c. A power of attorney to the commissioner as prescribed in section 34 of this act;

d. A statement of its business under oath of its president and secretary or corresponding officers in a form prescribed by the commissioner, duly verified by an examination made by the supervising insurance official of its home state, territory, province or country, satisfactory to the commissioner;

e. Certification from the proper official of its home state, territory, province or country that the society is legally incorporated and licensed to transact business therein;

f. Copies of its certificate forms;

g. A showing that its assets are invested in accordance with the provisions of this act;

h. Any other information the commissioner may deem necessary; and

i. Upon payment of a filing fee established by the commissioner by regulation.

L.1997,c.322,s.28.

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Section 17:44B-27 - Societies subject to examination

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Section 17:44B-29 - Domestic societies subject to C.17B:32-31 et seq.