NJ S1385

Amends New Jersey's reciprocal insurance and interinsurance law (P.L.1945, c.161) to exempt contracts between subscribers and attorneys in fact from being classified as related party transactions

Fees charged under contracts between subscribers and attorneys in fact, or arising from those contracts, are explicitly excluded from related party transaction requirements

Clarifies that reciprocal insurance contracts and exchanges are regulated only by the reciprocal insurance statute, not by other state insurance laws including R.S.17:27-1 et seq.

Applies to reciprocal or interinsurance contracts covering all types of insurance business authorized under state law, except life insurance