New Jersey Statutes 17:30C-12. Grounds for conservation-alien insurers
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Terms Used In New Jersey Statutes 17:30C-12
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
The commissioner may apply for an order directing him to conserve the assets within this State of an alien insurer upon any one or more of the following grounds:
a. Upon any of the grounds specified in section 6 and in section 8 b.
b. Upon the ground that the insurer has failed to comply within the time designated by the commissioner, with an order made by him to make good an impairment of its trusteed funds, or
c. Upon the ground that the property of the insurer has been sequestrated in its domiciliary sovereignty or elsewhere.
L.1975, c. 113, s. 12, eff. June 3, 1975.