2017 New Jersey Revised Statutes
TITLE 17B - INSURANCE
Section 17B:29-1 - Scope; differences in long-term and short-term indebtedness; rules and regulations

Universal Citation: NJ Rev Stat § 17B:29-1 (2017)

17B:29-1. Scope; differences in long-term and short-term indebtedness; rules and regulations

All life insurance and all health insurance in connection with loans or other credit transactions shall be subject to the provisions of this chapter, except where the issuance of such insurance is an isolated transaction on the part of the insurer not related to an agreement or a plan for insuring debtors of the creditor. The commissioner may, after notice and hearing, promulgate rules and regulations which will take account of the differences inherent in long-term and short-term indebtedness, including, but not limited to, differences in underwriting standards, the term of the loan, the nature of the risk, and the maximum amount of insurance purchased.

L.1971, c. 144, s. 17B:29-1. Amended by L.1982, c. 184, s. 1, eff. Nov. 24, 1982.

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