New Jersey S1477 clarifies that contracts between subscribers and their attorneys in fact are not related party transactions.
New Jersey S1477 amends the law concerning reciprocal insurance and interinsurance contracts. It specifies that contracts between subscribers and their attorneys in fact, along with any fees charged under these contracts, are not to be considered related party transactions. This bill ensures that such contracts are regulated by this act and exempt from other state statutes relating to insurance.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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