Senate Commerce Committee Statement to Senate, No. 3061, State of New Jersey (December 12, 2024)

Summary

A Senate Commerce Committee statement to Senate Bill No. 3061, State of New Jersey, dated December 12, 2024, reporting the bill favorably. The statement says the bill differentiates certain legal service plans from traditional insurance products, and that such plans are not insurance because they do not require the payment of claims, assumption of risk, or reimbursement or indemnification for legal services or expenses.

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Cite this document

“Senate Commerce Committee Statement to Senate, No. 3061, State of New Jersey (December 12, 2024).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-12-12-scm-s3061-s1-d46cada123/, SHA-256 1732544e30382549c86294eb878b411354fc76c0e36c048843bcc0ddd0cf09de.

Full text

     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                  SENATE, No. 3061

 STATE OF NEW JERSEY
                   DATED: DECEMBER 12, 2024

    The Senate Commerce Committee reports favorably Senate Bill
No. 3061.
   This bill differentiates certain legal service plans from traditional
insurance products.
   Under the bill, existing law is modernized by differentiating
certain legal service plans from traditional insurance
products. Such legal service plans are not insurance because they
do not require the payment of claims; assumption of risk; or
reimbursement or indemnification for legal services or expenses.

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File: 2024-12-12_SCM_S3061_S1.pdf
Size: 6,567 bytes
SHA-256: 1732544e30382549c86294eb878b411354fc76c0e36c048843bcc0ddd0cf09de
Our copy: 2024-12-12_SCM_S3061_S1.pdf
Original: No public link identified.