N.J.S. § 17B:37-3 - 'Interstate Insurance Product Regulation Commission.'
|Cite as:||N.J.S. § 17B:37-3|
|Currency:||Current through L. 2018, c. 140.|
a. The compacting states hereby create and establish a joint public agency known as the "Interstate Insurance Product Regulation Commission." Pursuant to section 4 of this act, the commission shall develop uniform standards for product lines, receive and provide prompt review of products filed therewith, and give approval to those product filings satisfying applicable uniform standards; however, it is not intended for the commission to be the exclusive entity for receipt and review of insurance product filings. Nothing in this act shall prohibit an insurer from filing its product in any state in which the insurer is licensed to conduct the business of insurance, which filing shall be s...
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