New Jersey Statutes 46:30B-26. Notice to insured or owner of policy of exercise of automatic premium loan or other nonforfeiture provision
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 46:30B-26
- Owner: means a person having a legal or equitable interest in property subject to this chapter or the person's legal representative and includes, but is not limited to, a depositor in the case of a deposit, a beneficiary in the case of a trust other than a deposit in trust, and a creditor, claimant, or payee in the case of other property. See New Jersey Statutes 46:30B-6
- State: means any state in the United States, district, commonwealth, territory, insular possession, or any other area subject to the jurisdiction of the United States. See New Jersey Statutes 46:30B-6
46:30B-26. Notice to insured or owner of policy of exercise of automatic premium loan or other nonforfeiture provision. If the laws of this State or the terms of the life insurance policy require the company to give notice to the insured or owner that an automatic premium loan provision or other nonforfeiture provision has been exercised and the notice, given to an insured or owner whose last known address according to the records of the company is in this State, is undeliverable, the company shall make a reasonable search to ascertain the policyholder’s correct address to which the notice shall be mailed. Source: New.
L.1989, c.58, s.1.