17B:28A-5 - Foreign or alien insurers; conditions for qualification to issue - New Jersey Statutes

17B:28A-5.  Foreign or alien insurers;  conditions for qualification to issue
    No foreign or alien company shall deliver or issue for delivery within this  State any policy of investment return assurance unless it is licensed to do  life insurance business within this State, and the commissioner is satisfied  that the applicable law and regulation of the company's state or country of  domicile with respect to the issuance by it of policies of investment return  assurance and its condition and methods of operation with respect to the  issuance of such policies will not render its operation hazardous to the public  or its policyholders in this State.  The commissioner may adopt rules and  regulations concerning limitations on foreign or alien companies similar to  those applied to domestic insurers.

     L.1977, c. 374, s. 5, eff. Feb. 8, 1978.