New Jersey Statutes 17:48E-46.14. Mutual holding company
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Terms Used In New Jersey Statutes 17:48E-46.14
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
14. A mutual holding company formed pursuant to P.L.2020, c.145 (C. 17:48E-46.1 et al.) shall not convert to a for-profit stock holding company. The provisions of P.L.2001, c.131 (C. 17:48E-49 et seq.) providing for conversion of a health service corporation to a domestic stock insurer shall not apply to a mutual holding company formed pursuant to P.L.2020, c.145 (C. 17:48E-46.1 et al.).
L.2020, c.145, s.14.