17B:35-4 - Deposits in compliance with condition precedent to or in connection with certificate of authority prior to effective date of act; use for similar purposes - New Jersey Statutes

17B:35-4.  Deposits in compliance with condition precedent to or in connection with certificate of authority prior to effective date of act; use for similar purposes
    Any deposit made in this State under any law repealed herein, with or through the Department of Insurance or the commissioner, or by any insurer in compliance with a condition precedent to or in connection with its certificate of authority to transact insurance in this State, and so on deposit immediately  prior to the effective date of this act, shall be given full recognition as  fulfillment, to the extent of such deposit, or any deposit so required for  similar purposes under this act.  The deposit shall hereafter be held for the  purpose applicable thereto as specified in this act, and shall be subject in  all respects to the provisions of this act applicable to similar deposits newly  made under this act.

     L.1971, c. 144, s. 17B:35-4.