17B:17-20 - Application of act; exclusions - New Jersey Statutes

17B:17-20.  Application of act;  exclusions
    a.  This act shall apply to all policies delivered or issued for delivery in  this State by any company on or after the dates such forms must be filed or  approved under this act, but nothing in this act shall apply to:

    (1) Any policy which is a security subject to Federal jurisdiction;

     (2) Any group policy covering a group of 50 or more lives at date of issue,  other than a group credit life insurance policy or a group credit health  insurance policy;  however, this shall not exempt any certificate issued  pursuant to a group policy delivered or issued for delivery in this State;

    (3) Any group annuity contract which serves as a funding vehicle for pension, profit-sharing, or deferred compensation plans;

    (4) Any form used in connection with, as a conversion from, as an addition to, or in exchange pursuant to a contractual provision for, a policy delivered or issued for delivery on a form filed, approved or permitted to be issued prior to the dates such forms must be filed or approved under this act;  or

    (5) The renewal of a policy delivered or issued for delivery prior to the dates such forms must be filed or approved under this act.

    b.  No other law of this State setting language simplification standards shall apply to any policy form.

    c.  Any non-English language policy delivered or issued for delivery in this  State shall be deemed to be in compliance with this act if the insurer certifies that such policy is translated from an English language policy which does comply with this act.

     L.1979, c. 167, s. 4, eff. Aug. 6, 1979.