Bill
Bill > A4536
NJ A4536
Provides that contracts between subscribers and attorney in fact are not a related party transaction.
summary
Introduced
06/13/2024
06/13/2024
In Committee
06/13/2024
06/13/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill amends the law concerning reciprocal insurance and interinsurance contracts. The bill provides that contracts between subscribers and the attorney in fact, and any fees charged pursuant to those contracts or arising out of those contracts, are not to be considered a related party transaction.
AI Summary
This bill amends the law concerning reciprocal insurance and interinsurance contracts. It provides that contracts between subscribers and the attorney in fact, as well as any fees charged pursuant to those contracts or arising out of those contracts, are not to be considered a related party transaction. This means that the contracts and fees between the subscribers and the attorney in fact are exempt from certain regulations that would otherwise apply to related party transactions.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 06/13/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A4536 |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4536_I1.HTM |
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