N.J. Admin. Code § 11:17A-4.1

Current through Register Vol. 56, No. 12, June 17, 2024

Section 11:17A-4.1 - Agent and broker authorized to collect premiums

(a) Premium monies collected by an insurance producer acting as an insurance agent shall be deemed to be received by the insurer by whom the agent is authorized to act whether or not the agent actually remits the monies to the insurer.

(b) Premium monies collected by an insurance producer acting as an insurance broker shall be deemed to be received by the insurer in accordance with the provisions of 17:22-6.2a.