Amends certain requirements concerning insurance holding companies.

This New Jersey bill amends requirements for insurance holding companies, specifically focusing on changes to control provisions. It creates a presumption of control when a person solicits proxies to elect 10% or more of a board, and expands the definition of "own" to include voting securities from convertible securities, options, and aggregated shares owned by persons acting in concert. Persons seeking to acquire control of an insurer must now file detailed information with the Department of Banking and Insurance and obtain commissioner approval before finalizing acquisitions. The bill aims to give the commissioner authority to review acquisitions to determine if they would be adverse to public interest or protection of policyholders.