New Jersey § 17B:32-61 Amount recoverable not affected by delinquency proceedings

New Jersey Statutes

§ 17B:32-61 — Amount recoverable not affected by delinquency proceedings

New Jersey § 17B:32-61

Title 17BINSURANCE

This text of New Jersey § 17B:32-61 (Amount recoverable not affected by delinquency proceedings) 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. § 17B:32-61 (2026).

Text

31.The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of the delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer's obligation to the insurer's estate except when the reinsurance contract provided for direct coverage of a named insured and the payment was made in discharge of that obligation. L.1992,c.65,s.31.

Free access — add to your briefcase to read the full text and ask questions with AI

31. The amount recoverable by the liquidator from reinsurers shall not be reduced as a result of the delinquency proceedings, regardless of any provision in the reinsurance contract or other agreement. Payment made directly to an insured or other creditor shall not diminish the reinsurer's obligation to the insurer's estate except when the reinsurance contract provided for direct coverage of a named insured and the payment was made in discharge of that obligation. L.1992,c.65,s.31.