17B:28-6 - Administration - New Jersey Statutes

17B:28-6.  Administration    Any insurer maintaining one or more separate accounts shall submit annually  to the commissioner a report of the business of its separate accounts.  Such  report shall be made either by a separate annual statement for such business or  by suitable additions to such insurer's regular annual statement, in either  case on a form prescribed by the commissioner, and shall include details as to  all of the income, disbursements, assets and liability items associated with  the separate accounts.

    The commissioner shall make a separate valuation of the assets of the separate accounts and a copy of such valuation shall be filed in the commissioner's office as a public document.  Such valuation shall be in accordance with section 17B:28-10.

    The commissioner shall further prescribe by regulation the steps to be taken  by the insurer in disposing of those holdings which at any time subsequent to  purchase fail to meet the standards and regulations for new investments.

     L.1971, c. 144, s. 17B:28-6.  Amended by L.1977, c. 37, s. 4, eff. March 10, 1977.