17:46B-16 - Maintenance of the statutory premium reserve - New Jersey Statutes

17:46B-16.  Maintenance of the statutory premium reserve
    If by reason of any cause, other than depreciation in the market value of investments, the amount of the assets of a title insurance company held as investments of its statutory premium reserve should on any date be less than the amount required to be maintained by law in such reserve, and the deficiency  shall not be promptly cured, such title insurance company shall forthwith give  written notice thereof to the commissioner and shall make no further policies,  contracts of title insurance or reinsurance agreements of title insurance until  the deficiency shall have been eliminated and until it shall have received  written approval from the commissioner authorizing it to again issue such  policies, contracts of title insurance or agreements.

     L.1975, c. 106, s. 16, eff. May 29, 1975.