17:22-6.2a - Authorization entitling broker to receive insurance premium on behalf of insurer - New Jersey Statutes

17:22-6.2a.  Authorization entitling broker to receive insurance premium on  behalf of insurer    Any insurer which delivers in this State to any insurance broker a contract  of insurance (other than a contract of life insurance, or life, accident or  health insurance) pursuant to the application or request of such broker, acting  for an insured other than himself, shall be deemed to have authorized such  broker to receive on its behalf payment of any premium which is due on such  contract at the time of its issuance or delivery or payment of any installment  of such premium or any additional premium which becomes due or payable  thereafter on such contract, provided such payment is received by such broker  within 90 days after the due date of such premium or installment thereof or  after the date of delivery of statement by the insurer of such additional  premium.

     L.1966, c. 50, s. 1, eff. May 24, 1966.