Senate Commerce Committee Statement to Senate, No. 1385 (May 18, 2026)
Summary
A New Jersey Senate Commerce Committee statement dated May 18, 2026, reporting Senate Bill 1385 favorably. The bill provides that contracts between subscribers and the attorney in fact for reciprocal insurance and interinsurance, and fees under those contracts, are not to be considered a related party transaction.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
SENATE COMMERCE COMMITTEE STATEMENT TO SENATE, No. 1385 STATE OF NEW JERSEY DATED: MAY 18, 2026 The Senate Commerce Committee reports favorably Senate Bill No. 1385. 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 pre-filed for introduction in the 2026-2027 session pending technical review. As reported, the bill includes the changes required by technical review, which has been performed.
File and source
- File
- 2026-05-18_SCM_S1385_S1.htm
- Size
- 2,884 bytes
- SHA-256
- eebb5e23c872f8def724438caac2884c2f6ad40ed9e04e67f994445b4707a9ea
- Our copy
- 2026-05-18_SCM_S1385_S1.htm
- Original
- pub.njleg.state.nj.us