17B:18-43 - Domestic insurers, powers, duties--general corporation law - New Jersey Statutes

17B:18-43.  Domestic insurers, powers, duties--general corporation law
    a.  Any domestic insurer and its stockholders, members and directors, shall  have all the powers granted and be subject to all the duties and obligations  imposed by New Jersey Business Corporation Act (N.J.S. 14A:1-1 et seq.), except  so far as they may be inconsistent with the provisions of this Code.

    b.  Subject to the approval of the commissioner, a domestic insurer may, independently of any insurance or annuity contract, provide services of the kinds it performs in the normal conduct of its insurance or annuity business, including but not limited to consultative, administrative, investment, actuarial, loss prevention, data processing, accounting, claims and collection services.  In granting any such approval, the commissioner may impose any limitations he may deem necessary for the protection of the interests of the policyholders of said insurer.  In granting or withholding his approval, the commissioner shall take into account the effect of said insurer's providing such services on its existing insurance and annuity business and its surplus, and the risks inherent in said insurer's providing such services.

     L.1971, c. 144, s. 17B:18-43.