Senate Commerce Committee Statement to Senate, No. 1477, State of New Jersey (March 24, 2025)

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“Senate Commerce Committee Statement to Senate, No. 1477, State of New Jersey (March 24, 2025).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-03-24-scm-s1477-s1-0db8d66367/, SHA-256 8b5fac706234bc201e5db8f74aea65e68c06a88167863a34463d5460bfcd9d6d.

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     SENATE COMMERCE COMMITTEE

                   STATEMENT TO

                 SENATE, No. 1477

 STATE OF NEW JERSEY
                    DATED: MARCH 24, 2025

    The Senate Commerce Committee reports favorably Senate Bill
No. 1477.
   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.
    This bill was prefiled for introduction in the 2024-2025 session
pending technical review. As reported, the bill includes the changes
required by technical review, which has been performed.

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