43:6A-22. Qualifications for life insurance company
Any life insurance company must meet the following requirements in order to qualify under section 21:
a. be licensed under the laws of the State of New Jersey to transact life and accidental death insurance; and
b. the amount of its group life insurance in the State of New Jersey shall at the time said insurance is to be purchased equal at least 1% of the total amount of such group life insurance in the State of New Jersey in all life insurance companies.
L.1973, c. 140, s. 22, eff. May 22, 1973.
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