New Jersey Statutes 17:30B-3. Definitions
Terms Used In New Jersey Statutes 17:30B-3
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. “Commissioner” means the Commissioner of Insurance of this State;
b. “Guaranty Association” means the New Jersey Property-Liability Insurance Guaranty Association, created under P.L.1974, c. 17 (C. 17:30A-1 et seq.);
c. “Association” means a Special Joint Underwriting Association created pursuant to section 4;
d. “Insolvent insurance company” means (1) an insurer admitted or authorized to transact the business of insurance in this State either at the time the policy was issued or when the insured event occurred, and (2) who is determined to be insolvent by a court of any competent jurisdiction;
e. “Servicing carrier” means a carrier licensed to provide insurance of the kind specified in section 2 B. and designated by an association, with the approval of the commissioner, to assist an association in fulfilling its obligations.
L.1974, c. 106, s. 3, eff. Sept. 19, 1974.