Statutes, codes, and regulations
New Jersey Administrative Code
Title 11 - INSURANCEChapter 2 - INSURANCE GROUP
Subchapter 36 - RISK RETENTION GROUPS AND PURCHASING GROUPS
Section 11:2-36.7 - Fines and penalties

N.J. Admin. Code § 11:2-36.7

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Current through Register Vol. 56, No. 24, December 18, 2024
Section 11:2-36.7 - Fines and penalties
(a) Each risk retention group, whether chartered in this State or otherwise, is subject to the same fines and penalties to which insurers licensed in this State are subject for any violation of this subchapter or any other applicable law.
(b) Failure of a risk retention group or purchasing group doing business in this State to comply with the provisions of this section may, after notice and a hearing in accordance with the Administrative Procedure Act, N.J.S.A. 52:14B-1 et seq., and the Uniform Administrative Procedure Rules, N.J.A.C. 1:1, result in the revocation or suspension of its registration in this State.

N.J. Admin. Code § 11:2-36.7

Recodified from N.J.A.C. 11:2-36.6 by R.2001 d.6, effective 1/2/2001.
See: 32 New Jersey Register 3530(a), 33 New Jersey Register 85(a).