17:46B-24 - Investments acquired before effective date - New Jersey Statutes

17:46B-24.  Investments acquired before effective date
    Any investment of a title insurance company lawfully acquired before the effective date of this act and which but for this section would be considered ineligible as an investment on such effective date shall be disposed of within 5 years from such effective date.  The commissioner, upon application and proof  that forced sale of any such investment would be contrary to the best interests  of the title insurance company and its policyholders, may extend the period for  sale or disposal of such investment for a further reasonable time, in no event  to exceed 3 years.

     L.1975, c. 106, s. 24, eff. May 29, 1975.