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2020 New Jersey Revised Statutes
Title 17 - Corporations and Institutions for Finance and Insurance
Section 17:20-2 - Deposits; interest on; substitution of
Universal Citation: NJ Rev Stat § 17:20-2 (2020)
17:20-2. Deposits; interest on; substitution of
17:20-2. The commissioner shall hold the securities deposited as aforesaid, for the benefit and security of all the policyholders of the company depositing them, but shall, so long as the company continues solvent and complies with all the requisites of the laws applicable to it, permit the company to collect the interest or dividends on the securities so deposited, and, from time to time, with his assent, to withdraw any of the securities, on depositing with him other eligible securities, the market value of which shall not cause the value of the total deposit to fall below the amount required by the commissioner.
Amended 1989,c.264,s.2; repealed in part(see N.J.S.17B:36-3b).
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