§488-1 Definitions. As used in this chapter:
"Accumulation or payment of money" or "accumulates funds" means the payment of funds by a member to the plan.
"Commissioner" means the insurance commissioner of the department of commerce and consumer affairs.
"Legal service plan" or "plan" means any arrangement by which a person as defined in section 431:1-212, or entity, not otherwise authorized to engage in the practice of law, offers to provide or arranges for the provision of legal services in exchange for any valuable consideration that is paid to the plan.
"Plan administrator" means those persons who have discretionary authority for the management of the plan or for the collection, management, or disbursement of plan moneys. [L 1976, c 156, pt of §1; am L 1982, c 204, §8; am L 1992, c 19, §1; am L 2008, c 19, §73; am L 2010, c 47, §1(1); am L 2011, c 186, §3]
Revision Note
Definitions rearranged.
Attorney General Opinions
Prepaid legal service plan whose membership is open to the public is a "group legal service plan". Att. Gen. Op. 86-22.