N.J. Admin. Code § 11:1-28.6

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:1-28.6 - Additional information requirements

(a) After review and acceptance of the feasibility study pursuant to N.J.A.C. 11:1-28.5, an applicant seeking to obtain a certificate of authority or a permit to solicit in the case of reciprocal insurance exchanges, shall submit the following to the Commissioner:

1. The corporation's original certificate of incorporation, which the Department will submit for review and certification by the State Attorney General of New Jersey.

i. A suggested form for the preparation of a certificate of incorporation is appended to this subchapter as Appendix A, which is hereby incorporated by reference as part of these rules.

ii. After approval and certification by the State Attorney General of New Jersey, the corporation shall submit the certificate of incorporation to the county clerk of the county of the corporation's domicile for recording. The corporation shall then file the original recorded certificate of incorporation with the Commissioner.

iii. In the case of proposed reciprocal insurance exchanges, in lieu of the requirements in (a)1i and ii above, the attorney in fact, if a corporation, shall file with the Commissioner a copy of its certificate of incorporation. The attorney in fact shall also file a declaration containing the information required in N.J.S.A. 17:50-3 and an instrument authorizing service of process on the Commissioner, pursuant to N.J.S.A. 17:50-4;

2. Biographical affidavits for each incorporator, officer and director of the proposed insurance corporation or attorney in fact, as applicable, in the format of Appendix B appended to this subchapter, which is hereby incorporated by reference as part of these rules; and a criminal history record check request pursuant to N.J.A.C. 11:1-28.7; and

3. The by-laws of the proposed insurer or reciprocal insurance exchange, as applicable.

(b) All filings required by this subchapter or other information reasonably deemed necessary by the Commissioner or otherwise required by law shall be sent to:

New Jersey Department of Banking and Insurance

Office of Solvency Regulation

PO Box 325

Trenton, New Jersey 08625-0325

Attention: Formation of domestic companies

N.J. Admin. Code § 11:1-28.6

Amended by 51 N.J.R. 765(a), effective 5/20/2019