New Jersey Statutes 17:23-44. Documents, materials, other information deemed proprietary and containing trade secrets
Terms Used In New Jersey Statutes 17:23-44
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
- Subpoena: A command to a witness to appear and give testimony.
- Testify: Answer questions in court.
b. Neither the commissioner nor any person who received documents, materials or other disclosure-related information, through examination or otherwise, while acting under the authority of the commissioner, or with whom those documents, materials or other information are shared pursuant to this act shall be subject to subpoena, permitted or required to testify in any private civil action concerning any confidential documents, materials, or information subject to subsection a. of this section.
c. In order to assist in the performance of the commissioner’s regulatory duties, the commissioner may:
(1) upon request, share documents, materials or other disclosure-related information including the confidential and privileged documents, materials or information subject to subsection a. of this section, including proprietary and trade secret documents and materials. with other state, federal and international financial regulatory agencies, including members of any supervisory college as provided in section 7 of P.L.2014, c.81 (C. 17:27A-5.1), with the NAIC, and with third party consultants pursuant to section 8 of this act, provided that the recipient agrees in writing to maintain the confidentiality and privileged status of the disclosure-related documents, material or other information and has verified in writing the legal authority to maintain confidentiality; and
(2) receive documents, materials or other disclosure-related information, including otherwise confidential and privileged documents, materials or information, including proprietary and trade-secret information or documents, from regulatory officials of other state, federal and international financial regulatory agencies, including members of any supervisory college as provided in section 7 of P.L.2014, c.81 (C. 17:27A-5.1), and from the NAIC, and shall maintain as confidential or privileged any documents, materials or information received with notice or the understanding that it is confidential or privileged under the laws of the jurisdiction that is the source of the document, material or information.
d. The sharing of information and documents by the commissioner pursuant to this act shall not constitute a delegation of regulatory authority or rulemaking, and the commissioner is solely responsible for the administration, execution and enforcement of the provisions of this act.
e. No waiver of any applicable privilege or claim of confidentiality in the documents, proprietary and trade-secret materials or other disclosure-related information shall occur as a result of disclosure of disclosure-related information or documents to the commissioner under this section or as a result of sharing as authorized in this act.
L.2019, c.350, s.7.