The following words and terms, when used in this subchapter,
shall have the following meanings, unless the context clearly indicates
otherwise.
"Acquisition" means any agreement, arrangement or activity,
the consummation of which results in a person acquiring directly or indirectly
the control of another person, and includes, but is not limited to, the
acquisition of voting securities, and assets, and bulk reinsurance and
mergers.
"Affiliate" means a person that directly, or indirectly
through one or more intermediaries, controls, or is controlled by, or is under
common control with, the person specified.
"Alien insurer" means an insurer formed under the laws of any
country other than the United States, its states, districts, territories,
commonwealth and possessions.
"Authorized insurer" means a foreign or alien insurer, duly
authorized by a certificate of authority issued by the Commissioner to transact
insurance in this State pursuant to
17:32-1 et seq. or 17B:23-1 et
seq.
"Commissioner" means the Commissioner of the New Jersey
Department of Banking and Insurance.
"Control" is as defined at N.J.S.A. 17:27A-1c.
"Department" means the New Jersey Department of Banking and
Insurance.
"Domestic insurer" means an insurer formed under the laws of
this State.
"Enterprise risk" is as defined at
17:27A-1.l.
"Executive officer" means chief executive officer, chief
operating officer, chief financial officer, treasurer, secretary, controller,
and any other individual performing functions corresponding to those performed
by the foregoing officers under whatever title.
"Foreign insurer" means an insurer formed under the laws of a
jurisdiction of the United States other than this State, and shall include an
alien insurer except where clearly noted otherwise.
"Insurance holding company system" means two or more
affiliated persons, one or more of which is an insurer.
"Insurer" means any person or persons, corporation,
partnership, or company authorized by the laws of this State to transact the
business of insurance in this State, except that it shall not include agencies,
authorities or instrumentalities of the United States, its possessions and
territories, the Commonwealth of Puerto Rico, the District of Columbia, or a
state or a political subdivision of a state.
"Person" means an individual, a corporation, a limited
liability company, a partnership, an association, a joint stock company, a
trust, an unincorporated organization, any similar entity, or any combination
of the foregoing acting in concert.
"Principal insurer" means the insurer with the largest amount
of direct written premium within the holding company system as shown by the
last filed annual statement.
"Subsidiary" of a specified person is an affiliate controlled
by such person directly, or indirectly through one or more
intermediaries.
"Ultimate controlling person" means that person which is not
controlled by any other person.
"Unauthorized insurer" means an insurer that is not an
authorized insurer.
"Voting security" includes any security convertible into or
evidencing a right to acquire a voting security.
