New Jersey Statutes
§ 17:22E-19 — Restrictions on appointment of board of directors
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
19.A reinsurer shall not appoint to its board of directors any officer, director, employee, controlling shareholder or subproducer of its reinsurance intermediary-manager. This section shall not apply to relationships governed by P.L.1970, c.22 (C.17:27A-1 et seq.) or, if applicable, any laws governing business transacted by producer-controlled property and casualty insurers in this State. L.1993,c.244,s.19.
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Nearby Sections
15
§ 17:22E-1
Definitions§ 17:22E-10
Employment restrictions§ 17:22E-12
Written contract required for transactions between reinsurance intermediary-manager and reinsurer§ 17:22E-16
Adequacy of loss reserves§ 17:22E-18
Written notice of contract termination§ 17:22E-20
Examination of reinsurance intermediary§ 17:22E-21
Violations; penalties§ 17:22E-22
Rights not restricted, limited