Senate Commerce Committee Statement to Senate, No. 3636 (December 18, 2023)

Summary

The New Jersey Senate Commerce Committee reported Senate Bill No. 3636 favorably on December 18, 2023. For reciprocal insurance and interinsurance, contracts between subscribers and the attorney in fact, and fees under them, would not count as related party transactions.

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Cite this document

“Senate Commerce Committee Statement to Senate, No. 3636 (December 18, 2023).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-12-18-scm-s3636-s1-c295fb78e0/, SHA-256 3f21f4b6ba4d9a1f9a40bc86bcfa1a7b9d11c6b6c91802b77596a0dade8a917f.

Full text

     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                  SENATE, No. 3636

 STATE OF NEW JERSEY
                  DATED: DECEMBER 18, 2023

    The Senate Commerce Committee reports favorably Senate Bill
No. 3636.
    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.

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