New Jersey legislation · 2026-2027 Regular Session
New Jersey A3240: Insurance/interinsurance contracts-concerns between subscribers and attorney
Status: Passed one chamber, September 28, 2026
Provides that contracts between subscribers and attorney in fact are not related party transactions.
What the bill says
An Act concerning reciprocal insurance and interinsurance contracts and amending P.L.1945, c.161.
From the introduced text, January 13, 2026:
An Act concerning reciprocal insurance and interinsurance contracts and amending P.L.1945, c.161. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Section 1 of P.L.1945, c.161 (C.17:50-1) is amended to read as follows: 1. Individuals, partnerships, trustees and all corporations of this State, herein designated "subscribers," are hereby authorized to exchange reciprocal or interinsurance contracts with each other and with individuals, partnerships, trustees and corporations of other States, districts, provinces and countries, for any or all of the kinds of business for which a company may be formed or authorized to transact under the provisions of chapter seventeen of Title 17 of the Revised Statutes, except life insurance. Such contracts and the exchange thereof and such subscribers, their attorneys in fact and representatives shall be regulated by this act, and by no other statute of this State relating to insurance, [ADDED: including, but not limited to, R.S.17:27-1 et seq.,] except as herein otherwise provided. [ADDED: Such contracts between subscribers and the attorney in fact and any fees charged pursuant to those contracts or arising out of those contracts shall not be construed to be a related party transaction.] (cf: P.L.1945, c.161, s.1) 2. This act shall take effect immediately. STATEMENT This bill amends the law concerning reciprocal insurance and interinsurance contracts. The bill …
Sponsors
- Dan Hutchison (D, 4) · primary sponsor
- Carol A. Murphy (D, 7) · primary sponsor
- Rosaura Bagolie (D, 27) · primary sponsor
- Cody D. Miller (D, 4)
- Roy Freiman (D, 16)
Latest actions
- : R/S REF SBA
- : PA (77-2-0)
- : REP 2RA
- : INT 1RA REF AFI
Votes
- 3RDG FINAL PASSAGE - Insurance/interinsurance contracts-concerns between subscribers and attorney (June 30, 2026): 77 yea, 2 nay, passed
- Assembly Financial Institutions and Insurance Committee: Reported favorably (June 4, 2026): 12 yea, 0 nay, passed
Subjects: INSURANCE
Common questions
- What is A3240?
- A3240 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Insurance/interinsurance contracts-concerns between subscribers and attorney.
- What does A3240 do?
- In its own words: An Act concerning reciprocal insurance and interinsurance contracts and amending P.L.1945, c.161.
- What is the status of A3240?
- Passed one chamber as of September 28, 2026. Latest action: R/S REF SBA (September 28, 2026).
- Who sponsored A3240?
- Dan Hutchison (D, 4), with 4 co-sponsors.
- Where is the official record for A3240?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A3240
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.