New Jersey Statutes 17:22-6.61. Suspension, revocation, refusal to renew license of surplus lines agents
Terms Used In New Jersey Statutes 17:22-6.61
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
(a) (Deleted by amendment, P.L.2001, c.210);
(b) Removal of the accounts and records of his surplus lines business during the period when such accounts and records are required to be maintained under section 23 of P.L.1960, c.32 (C. 17:22-6.57);
(c) Closure of the licensee’s office for a period of more than 30 consecutive days, unless granted permission by the commissioner upon showing circumstances warranting such closure for a longer period;
(d) Failure to make and file his quarterly reports when due as required by section 24 of P.L.1960, c.32 (C. 17:22-6.58);
(e) Failure to pay the tax on surplus lines premiums, as provided for in this surplus lines law;
(f) (Deleted by amendment, P.L.2001, c.210);
(g) Suspension, revocation or refusal to renew any other license issued by the commissioner;
(h) Lack of qualifications as for an original surplus lines agent’s license;
(i) Violation of any provision of this surplus lines law;
(j) For any other cause for which a license could be denied, revoked, suspended or renewal refused under section 15 of P.L.2001, c.210 (C. 17:22A-40).
In addition to the foregoing penalties set forth in this section, any person, persons or corporation violating any of the provisions of this act shall be liable to a penalty not exceeding $2,500 for the first offense and not exceeding $5,000 for each succeeding offense to be recovered in a summary proceeding as provided in R.S.17:33-2.
L.1960,c.32,s.27; amended 1996, c.69, s.9; 2001, c.210, s.25.