A 3240
Provides that contracts between subscribers and attorney in fact are not related party transactions.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill clarifies that contracts between insurance subscribers and their attorneys in fact are not considered related party transactions under New Jersey law. It amends existing insurance regulations to specifically exclude these contracts from being classified as such. This aims to provide clarity and prevent potential issues related to conflicts of interest when dealing with attorneys representing multiple insurance clients. The bill ensures that fees charged in these contracts are not viewed as related party transactions.
Sponsors
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Primary sponsors
Cosponsors
Cody Miller
Roy Freiman
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