17:27B-1 - Definitions - New Jersey Statutes

17:27B-1.  Definitions
    As used in this act,

    (1)  "Domestic insurer"  means a stock insurance company organized under the  laws of this State;

    (2)  "Parent corporation"  means a corporation organized for any purpose under any law of this State or any other jurisdiction, which owns directly or indirectly at least 95% of the aggregate issued and outstanding shares of all classes of voting stock of a domestic insurer;

    (3)  "Subsidiary insurer"  means a domestic insurer so owned by a parent corporation;  and

    (4)  "Commissioner"  means the Commissioner of Insurance of New Jersey.

     L.1971, c. 132, s. 1, eff. May 6, 1971.