N.J. Admin. Code § 11:4-17.7

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:4-17.7 - Penalties

(a) Any person who, after notice and hearing, is determined by the Commissioner to be in violation of this regulation shall be liable to a penalty not exceeding $ 2,000 for each violation. In addition to, or in lieu thereof, the Commissioner may revoke or suspend the license or certificate of authority of any such agent, broker, consultant, or insurer.

(b) An insurer may be held legally accountable for violations of this regulation by any of its agents. If any agent is fined pursuant to this regulation, an equivalent fine may be levied against the insurer responsible for the agent's actions.

N.J. Admin. Code § 11:4-17.7

Amended by R.1991 d.3, effective 1/7/1991.
See: 22 New Jersey Register 1689(a), 23 New Jersey Register 111(a).
In (a): changed "solicitor" to "consultant."