17:46C-26 - Person transacting business prior to effective date; application; continuance of operation - New Jersey Statutes

17:46C-26.  Person transacting business prior to effective date; application;  continuance of operation
    Any person who has been transacting the business of legal insurance for more  than 90 days prior to the effective date of this act shall submit an application for a certificate of authority under section 4 of this act within 90 days of the effective date of this act and that applicant may continue to operate until the commissioner acts upon the application.  In the event that an  application is denied under section 5 of this act, the applicant shall be treated as a legal insurer whose certificate of authority has been revoked.

     L.1981, c. 160, s. 26.