17:12B-140 - Payment of withdrawals on other plans and purchase of accounts prohibited; authority of commissioner - New Jersey Statutes

17:12B-140.  Payment of withdrawals on other plans and purchase of accounts  prohibited;  authority of commissioner
    No State association shall obligate itself to pay withdrawals on any other plan than that provided in this act, nor shall any State association purchase an account from any member;  provided, however, the commissioner may, whenever in his judgment the circumstances so warrant, direct any State association to suspend the payment of withdrawals or to pay withdrawals under any plan or plans the commissioner is authorized to impose under the provisions of sections  179, 180 and 182 of this act.

     L.1963, c. 144, s. 140.