17:48A-10 - Schedule of rates; filing, disapproval - New Jersey Statutes

17:48A-10.  Schedule of rates;  filing, disapproval
    No corporation subject to the provisions of this act shall enter into any contract with a subscriber unless and until it shall have filed with the Commissioner of Banking and Insurance a full schedule of the rates to be paid by the subscribers to such contracts.  The commissioner may disapprove such schedule of rates at any time if he finds that such rates are excessive, inadequate or discriminatory.  It shall be unlawful for any corporation to effect any contract or issue any subscription certificate until a revised schedule of rates has been filed.  Such disapproval by the commissioner shall be subject to review by the Superior Court in a proceeding in lieu of prerogative writ.

     L.1940, c. 74, p. 192, s. 10.  Amended by L.1953, c. 17, p. 294, s. 183.