{"data":{"id":"us-nj/n.j.-stat.-17-48a-12","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:48A-12","heading":"Expenditures in soliciting subscribers","body":"No corporation subject to the provisions of this chapter shall disburse during any one calendar year more than ten per centum (10%) of the aggregate amount of payments received from subscribers during that year as expenditures for the solicitation of subscribers except that during the first year after the  issuance of a certificate of authority such corporation may so disburse not  more than twenty per centum (20%) of such amount and during the second year not  more than fifteen per centum (15%).\nL.1940, c. 74, p. 193, s. 12.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"628e9979d6e50ff82600e1f4f2470a7bdec9fc0d339bc67a989cd9a1f681c0ff","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-48a-11","next":"us-nj/n.j.-stat.-17-48a-13"},"notice":"GroundRules: Original legal text. Not legal advice."}