New Jersey § 17:14A-13 Commissioner's findings

New Jersey Statutes

§ 17:14A-13 — Commissioner's findings

New Jersey § 17:14A-13

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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Bluebook

N.J. Stat. Ann. § 17:14A-13 (2026).

Text

The commissioner shall approve the application and issue a certificate of approval which shall be endorsed upon or annexed to the certificate of incorporation if he finds that: a. The establishment of the company is in the public interest; and b. Will be of benefit to the area proposed to be served; and c. The amount of the capital stock appears adequate or if he deems it inadequate the amount of capital stock or other form of capital investment he deems appropriate; and d. The company will have a reasonable prospect of success; and e. The character, responsibility and general fitness of the incorporators command confidence and warrant belief that the business of the company will be honestly and efficiently conducted; and f. The name proposed for the company conforms with the requirements 

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The commissioner shall approve the application and issue a certificate of approval which shall be endorsed upon or annexed to the certificate of incorporation if he finds that: a. The establishment of the company is in the public interest; and b. Will be of benefit to the area proposed to be served; and c. The amount of the capital stock appears adequate or if he deems it inadequate the amount of capital stock or other form of capital investment he deems appropriate; and d. The company will have a reasonable prospect of success; and e. The character, responsibility and general fitness of the incorporators command confidence and warrant belief that the business of the company will be honestly and efficiently conducted; and f. The name proposed for the company conforms with the requirements of this chapter and that the proposed bylaws are proper; and g. The company has filed proofs as to the mailing of notice and publication required by the chapter. L.1983, c. 566, s. 17:14A-13.