17:17A-1 - Insurer may acquire stock of or have common management with other insurers; restrictions - New Jersey Statutes

17:17A-1.  Insurer may acquire stock of or have common management with other  insurers;  restrictions
    Any domestic insurer may retain, invest in or acquire the whole or any part  of the capital stock of any other insurer or insurers, or have a common management with any other insurer or insurers;  provided, such retention, investment, acquisition or common management is not inconsistent with any other  provisions of subtitle three of Title 17 of the Revised Statutes of New Jersey;   and provided further, that by reason of such retention, investment or  acquisition of such capital stock, or common management, the business of such  insurers with the public shall not be conducted in a manner which substantially  lessens competition generally in the business of insurance or creates a  monopoly therein.

     L.1948, c. 157, p. 893, s. 1.