N.J. Admin. Code § 11:15-5.29

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

Section 11:15-5.29 - Orders

(a) After notice and opportunity for a hearing, as provided in 11:15-5.2 8, the Commissioner may issue an order revoking or suspending a fund's authority or requiring a person or fund to cease and desist from engaging in an act or practice found to be in violation of any provision of 18A:18B-1 et seq. or this subchapter.

(b) Upon a finding, after notice and opportunity for a hearing, as provided in 11:15-5.2 8, that a fund has violated any cease and desist order, the Commissioner may revoke his or her approval of the fund.

(c) Upon a finding, after notice and opportunity for a hearing, as provided in 11:15-5.2 8, the Commissioner may issue an order requiring the trustees to dismiss an administrator, servicing organization or program manager or terminate the contract of an administrator, servicing organization or program manager because of any fraud, material misrepresentation, incompetence or untrustworthiness, misappropriation or conversion of monies or violation of any fiduciary responsibilities by the administrator, servicing organization or program manager, or any of the employees, officers or directors thereof.

N.J. Admin. Code § 11:15-5.29