New Jersey § 17:12B-140 Payment of withdrawals on other plans and purchase of accounts  prohibited;  authority of commissioner

New Jersey Statutes

§ 17:12B-140 — Payment of withdrawals on other plans and purchase of accounts prohibited; authority of commissioner

New Jersey § 17:12B-140

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

This text of New Jersey § 17:12B-140 (Payment of withdrawals on other plans and purchase of accounts prohibited; authority of commissioner) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17:12B-140 (2026).

Text

No State association shall obligate itself to pay withdrawals on any other plan than that provided in this act, nor shall any State association purchase an account from any member; provided, however, the commissioner may, whenever in his judgment the circumstances so warrant, direct any State association to suspend the payment of withdrawals or to pay withdrawals under any plan or plans the commissioner is authorized to impose under the provisions of sections 179, 180 and 182 of this act. L.1963, c. 144, s. 140.

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No State association shall obligate itself to pay withdrawals on any other plan than that provided in this act, nor shall any State association purchase an account from any member; provided, however, the commissioner may, whenever in his judgment the circumstances so warrant, direct any State association to suspend the payment of withdrawals or to pay withdrawals under any plan or plans the commissioner is authorized to impose under the provisions of sections 179, 180 and 182 of this act. L.1963, c. 144, s. 140.