17B:28A-1 - Insurance against risk of loss in value of redeemable securities issued by investment company - New Jersey Statutes

17B:28A-1.  Insurance against risk of loss in value of redeemable securities  issued by investment company    A domestic insurer authorized to do the business specified in N.J.S. 17B:17-3 may issue and deliver individual and group policies insuring against the risk of loss in the value of (a) redeemable securities issued by an investment company regulated by the Investment Company Act of 1940 (15 U.S.C.A.  s. 80a-1 et seq.) and whose redeemable securities are registered under the  Securities Act of 1933 (15 U.S.C.A. s. 77a et seq.) or (b) redeemable securities  issued by an investment company which shall include an investment fund, trust,  or other similar investment entity, existing under the laws of a foreign  country and not so regulated if such company or its securities are determined  by the commissioner to be subject to regulation reasonably designed to provide  adequate protection to investors in the redeemable securities issued by such  company.  Such insurance is herein termed investment return assurance.   Investment return assurance does not include guarantees of benefits provided  by separate account contracts issued by the insurer, which guarantees shall be  subject to the provisions of chapter 28 of Title 17B of the New Jersey  Statutes.

     L.1977, c. 374, s. 1, eff. Feb. 8, 1978.