N.J. Admin. Code § 11:17C-2.1

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

Section 11:17C-2.1 - Commingling of funds

(a) All premium funds shall be held by an insurance producer in a fiduciary capacity and shall not be misappropriated, improperly converted to the insurance producer's own use, or illegally withheld by the licensee.

(b) All premium funds shall be segregated and not in any manner commingled with any other funds of the insurance producer, except as may be permitted by this chapter.