New Jersey Statutes 17:48A-9. Filing form of subscription certificate, etc.; disapproval by commissioner
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Terms Used In New Jersey Statutes 17:48A-9
- 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.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
No subscription certificate shall be issued by any medical service corporation to any subscriber unless and until the form thereof shall have been filed with the Commissioner of Banking and Insurance together with all applications, riders and endorsements for use in connection with the issuance or renewal thereof. If the commissioner shall at any time notify the corporation filing the same of his disapproval of any such form, as contrary to law, or as being oppressive or calculated to mislead the public, specifying particulars, it shall be unlawful for such corporation thereafter to issue any such form so disapproved. Such disapproval of the commissioner shall be subject to review by the Superior Court in a proceeding in lieu of prerogative writ.
L.1940, c. 74, p. 191, s. 9. Amended by L.1953, c. 17, p. 293, s. 182.