New Jersey Statutes 17:48-9. Schedule of rates; filing; disapproval by Commissioner
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Terms Used In New Jersey Statutes 17:48-9
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
No corporation subject to the provisions of this act shall enter into any contract with a subscriber unless and until it shall have filed with the Commissioner of Banking and Insurance a full schedule of the rates to be paid by the subscribers to such contracts. The commissioner may disapprove such schedule at any time if he finds that such rates are excessive, inadequate or discriminatory. It shall be unlawful for any corporation to effect any contract according to such rates thereafter. Such disapproval of the commissioner shall be subject to review by the Superior Court in a proceeding in lieu of prerogative writ.
L.1938, c. 366, p. 929, s. 9. Amended by L.1953, c. 17, p. 289, s. 176.