N.J. Admin. Code § 11:2-14.2

Current through Register Vol. 56, No. 24, December 18, 2024
Section 11:2-14.2 - Definitions

The following words and terms, as used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.

"Ballot" means the instrument by which a policyholder indicates his approval or disapproval of the plan of reorganization, including, but not limited to, a paper ballot.

"Commissioner" means the Commissioner of Banking and Insurance of the State of New Jersey.

"Demutualization" means the conversion of a domestic mutual insurer into a stock insurer.

"Department" means the New Jersey Department of Banking and Insurance.

"IVR" means interactive voice response.

"Notice" means a notice of the policyholder meeting as required by N.J.S.A. 17:17C-5c.

"Policyholder meeting" means the meeting of the policyholders held to conduct the vote on the plan of demutualization pursuant to N.J.S.A. 17:17C-5.

"Voting policyholders" means those policyholders of the insurer who are eligible to vote on the plan of reorganization pursuant to N.J.S.A. 17B:18-13 or 17B:18-23, as applicable.

N.J. Admin. Code § 11:2-14.2