17B:23-3 - Deposit by alien insurers - New Jersey Statutes

17B:23-3.  Deposit by alien insurers
    No alien insurer shall be admitted until, in addition to complying with the  foregoing conditions, it has made a deposit or deposits with the insurance  commissioner or other officer of a State or States of the United States,  designated by the laws of such State or States to hold the same, of a total  amount not less than $200,000.00, nor less than the capital required of a stock  company of this State transacting the same kinds of business.  The deposit or  deposits must be in exclusive trust for the benefit and security of all the  policyholders of the company in the United States, and shall be deemed for all  purposes of this code the capital of the company making it.

     L.1971, c. 144, s. 17B:23-3.