N.J. Admin. Code § 13:55A-2.3

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

Section 13:55A-2.3 - Issuance of a security officer company license

(a) The Superintendent, after examination of application(s) and such further inquiry and investigations as the Superintendent shall deem proper as to the good character, competency, and integrity of the applicant(s), shall advise the applicant(s) whether their application for a security officer company license has been approved or denied.

(b) If approved, applicant(s) will be advised that a company license will be issued:

1. Upon the execution and delivery to the Superintendent of a $ 5,000 surety bond, conditioned for the faithful and honest conduct of business by the applicant, issued by a surety company authorized to be surety in the State of New Jersey, as surety, and running to the State of New Jersey for the benefit of any person, firm, association, or corporation, injured by the willful, malicious, or wrongful act of the applicant; and

2. Upon payment of a non-refundable $ 500.00 fee for each location and place of business, that is, offices, sub-agencies, branches, etc., listed in the initial application(s) submitted by owners or operators of a security officer company.

(c) Once the requirements of (b) above are met, the Superintendent shall issue a security officer company license for each location and place of business, which shall be valid for a period of two years and shall thereafter be renewable every two years.

N.J. Admin. Code § 13:55A-2.3