N.J. Admin. Code § 11:4-44.1

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:4-44.1 - Purpose and scope

(a) The purpose of this subchapter is to implement the Life and Health Insurance and Health Maintenance Organization Form Approval Reform Act, P.L. 1995, c.73, by setting forth the Department's standards for approval of life insurance and annuity contracts issued on a variable basis.

(b) This subchapter shall apply to all life insurance and annuities contracts on a variable basis and any certificate evidencing variable benefits pursuant to such contracts, which are issued pursuant to N.J.S.A. 17B:28-1 et seq. and delivered or issued for delivery in this State. This subchapter shall not apply to variable life insurance and annuities forms approved by the Interstate Insurance Product Regulation Commission created pursuant to the Interstate Insurance Product Regulation Compact established by P.L. 2010, c. 120.

Amended by R.2011 d.265, effective 11/7/2011.
See: 43 N.J.R. 819(a), 43 N.J.R. 3026(a).
In (b), inserted the last sentence.