N.J. Admin. Code § 11:17E-1.3

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:17E-1.3 - Prohibited activities; requirement to obtain waiver; determination of appropriate state

(a) No person having been convicted of a felony involving breach of trust or dishonesty or having been convicted under 18 U.S.C. § 1033 shall be employed in the business of insurance in this State in any capacity without having first obtained a waiver from the Commissioner or his or her designee in accordance with the provisions of 18 U.S.C. § 1033(e)(2) and this subchapter.

(b) No insurer, producer, or any other person or independent contractor involved in the business of insurance in this State shall employ any prohibited person in any capacity without having first ensured that said prohibited person has obtained a waiver in accordance with 18 U.S.C. § 1033(e)(2) and this subchapter.

(c) All prohibited persons seeking to obtain a waiver in accordance with (a) above shall complete and file "Application for Waiver Short Form" or "Application for Waiver Comprehensive Form," set forth at Exhibits A and B respectively in the Appendix to this chapter and incorporated herein by reference to:

New Jersey Department of Banking and Insurance

Consumer Protection Services--Licensing

PO Box 329

Trenton, NJ 08625- 0329

(d) This State shall be deemed to be the appropriate state from which an applicant shall obtain a waiver where:

1. The applicant will be employed in the business of insurance in this State;

2. The applicant would be required to obtain a producer's license to do business in this State; or

3. The applicant is or will be an officer, director or employee of a domestic insurer, reinsurer, producer, third-party administrator or independent contractor performing substantial insurance related activities for a domestic insurer or producer.

N.J. Admin. Code § 11:17E-1.3

Amended by R.2002 d.354, effective 11/4/2002.
See: 34 N.J.R. 2286(a), 34 N.J.R. 2549(b), 34 N.J.R. 3839(a).
In (b), deleted "limited insurance representative," preceding "or any other person"; in (d), deleted "or limited insurance representative registration" in 2 and deleted 'or limited insurance representative" in 3.
Amended by R.2014 d.139, effective 9/2/2014.
See: 46 N.J.R. 676(a), 46 N.J.R. 1884(b).
In the introductory paragraph of (c), deleted ", together with the processing fee of $ 59.00" following "reference".
Notice of readoption with technical change, effective 1/3/2022.
See: 54 N.J.R. 72(a).