§ 17:27B-1 — Definitions

As used in this act, (1) "Domestic insurer" means a stock insurance company organized under the laws of this State; (2) "Parent corporation" means a corporation organized for any purpose under any law of this State or any other jurisdiction, which owns directly or indirectly at least 95% of the aggregate issued and outstanding shares of all classes of voting stock of a domestic insurer; (3) "Subsidiary insurer" means a domestic insurer so owned by a parent corporation; and (4) "Commissioner" means the Commissioner of Insurance of New Jersey. L.1971, c. 132, s. 1, eff. May 6, 1971.