N.J. Admin. Code § 16:41C-5.3
Current through Register Vol. 56, No. 11, June 3, 2024
If a licensee does not reside in New Jersey or is a foreign corporation not authorized to do business in this State, it shall file with its application a bond of $ 5,000 in favor of the State satisfactory to the Commissioner and issued by an approved surety, conditioned upon the observing and fulfilling by the applicant of all the provisions of the law and the rules contained in this chapter. Upon default in the condition of such bond, appropriate action shall be taken to enforce the collection thereof in a court of competent jurisdiction. A bond shall remain in full force and effect so long as any obligation to the State in such license shall remain unsatisfied.
N.J. Admin. Code § 16:41C-5.3