17:29A-10 - Uniform change in rates; application; order of approval or denial - New Jersey Statutes

17:29A-10.  Uniform change in rates;  application;  order of approval or denial
    A member of or subscriber to a rating organization may make a written application to the commissioner for permission to file a uniform percentage decrease or increase to be applied to the premiums produced by the rating system filed on its behalf by such rating organization for a kind of insurance,  a subdivision of a kind of insurance or for a class of insurance which is found  by the commissioner to be a proper rating unit for the application of such  uniform percentage decrease or increase, or otherwise deviate from the rating  plans or rules so filed.  The commissioner shall, make an order approving the  application if he shall deem it consistent with the establishment and  maintenance of reasonable, adequate, and nondiscriminatory rates.  If the  commissioner shall find that such increase or decrease will result in rates  that are unreasonable, inadequate, or unfairly discriminatory, he shall make an  order denying the application.

     L.1944, c. 27, p. 75, s. 10.  Amended by L.1971, c. 368, s. 3, eff. Dec. 28, 1971.