New Jersey Statutes 17:47-1. Insurance on Lloyds plan authorized
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Terms Used In New Jersey Statutes 17:47-1
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
Individuals, partnerships or associations of individuals, hereinafter designated “underwriters” , may engage in the business of insurance in this state as insurers on the Lloyds plan, whereby each associate underwriter becomes liable for a proportionate amount insured by a policy, in accordance with the provisions of this chapter, and not otherwise.