New Jersey Statutes 17:48A-13. Administrative expenses
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Terms Used In New Jersey Statutes 17:48A-13
- 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.
No such corporation shall disburse during any one year, a sum greater than twenty per centum (20%) of payments received from subscribers during that year as administrative expenses. The term “administrative expense” as used in this section shall include all expenditures for nonprofessional services and in general all expenses not directly connected with the payment for medical services, but not including expenses of soliciting subscriptions.
L.1940, c. 74, p. 193, s. 13.