Any life insurance company must meet the following requirements in order to qualify under section 1 of this act; (a) be licensed under the laws of the State of New Jersey to transact life and accidental death insurance, and (b) the amount of its group life insurance in the State of New Jersey other than group creditors insurance shall at the time said insurance is to be purchased equal at least 1% of the total amount of such group life insurance in the State of New Jersey in all life insurance companies.
N.J. Stat. Ann. § 43:15A-89
Requirements of insurance company
Known as the Public Employees' Retirement System Act
The act spans §§ 43:15A-1 to 43:15A-99 (202 sections).
L.1955, c. 214, p. 830, s. 2.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.