NJ A3802

Creates a new category of "prepaid legal insurance plans" defined as arrangements where members prepay for legal services through an organization that contracts directly with attorneys for fixed, pre-arranged payments with no additional reimbursement

Allows employees and authorized representatives of prepaid legal insurance plan entities to sell these plans without individual insurance producer licenses, provided the entity obtains a limited lines prepaid legal insurance producer plan license

Requires entities issuing prepaid legal insurance plans to develop training programs covering plan provisions and legal requirements for employees who sell these products

Mandates that entities possessing a certificate of authority must either directly supervise or appoint a licensed supervising entity to oversee employees and representatives selling prepaid legal insurance plans

Limited lines prepaid legal insurance plan producer licenses must be renewed biennially, with fees prescribed by the Commissioner of Banking and Insurance, and the act takes effect 90 days after enactment