§ 17:45A-1 Mutual benefit association defined
§ 17:45A-2 Authorization to convert
§ 17:45A-3 Method of conversion; contents of resolution
§ 17:45A-4 Vote percentage required for approval; certificate to Commissioner of Banking and Insurance
§ 17:45A-5 Issuance of certificate of authority upon certain findings by commissioner
§ 17:45A-6 Date of existence as mutual life insurance company; effect
§ 17:45A-7 Rights against association not affected by conversion; exception
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Terms Used In New Jersey Statutes > Title 17 > Chapter 45A - Mutual Benefit Association Defined

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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