New Jersey Statutes 17:23B-1. Definitions
Terms Used In New Jersey Statutes 17:23B-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
“Commissioner” means the Commissioner of Insurance.
“Department” means the Department of Insurance.
“Insurer” means:
a. A corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd’s insurer, fraternal benefit society or other person engaged in the business of insurance pursuant to Subtitle 3 of Title 17 of the Revised Statutes (R.S.17:17-1 et seq.), or Subtitle 3 of Title 17B of the New Jersey Statutes (N.J.S. 17B:17-1 et seq.);
b. Any medical service corporation operating pursuant to P.L.1940, c.74 (C. 17:48A-1 et seq.);
c. Any hospital service corporation operating pursuant to P.L.1938, c.366 (C. 17:48-1 et seq.);
d. Any health service corporation operating pursuant to P.L.1985, c.236 (C. 17:48E-1 et al.); and
e. Any dental service corporation operating pursuant to P.L.1968, c.305 (C. 17:48C-1 et seq.).
“NAIC” means the National Association of Insurance Commissioners.
L.1993,c.238,s.1.