N.J. Admin. Code § 11:17A-1.6

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:17A-1.6 - Duty to have insurance producer at each place of business

(a) Each place of business maintained by an insurance producer for the purpose of transacting the business of insurance shall be under the direct supervision of an insurance producer.

(b) Any insurance producer who has established one or more places of business for the purpose of transacting the business of insurance shall assign at least one insurance producer to each location and shall register each location as a branch office in accordance with 11:17-2.8. Any insurance business conducted at a branch office shall be the responsibility of both the licensed producer assigned to that office and the insurance producer that registered the branch office in accordance with 11:17-2.8.

(c) Licensed partners, officers and directors, and all owners with an ownership interest of 10 percent or more in the organization shall be held responsible for all insurance related conduct of the organization licensee, any of its branch offices, its other licensed officers or partners, and its employees.

N.J. Admin. Code § 11:17A-1.6

Amended by R.2000 d.44, effective 2/7/2000.
See: 31 N.J.R. 3583(a), 32 N.J.R. 499(a).
In (b), added a second sentence; and rewrote (c).
Amended by R.2002 d.354, effective 11/4/2002.
See: 34 N.J.R. 2286(a), 34 N.J.R. 2549(b), 34 N.J.R. 3839(a).
In (b), substituted "N.J.A.C. 11:17-2.8" for "N.J.S.A. 17:22A-8" in the second sentence; rewrote (c).
Amended by R.2011 d.027, effective 1/18/2011.
See: 42 N.J.R. 1470(a), 43 N.J.R. 189(b).
In (b), deleted "separate" preceding the third occurrence of "insurance" and inserted the second occurrence of "each location"; and in (c), substituted "10" for "five".