New Jersey Statutes 17:23-35. Failure to file ORSA Summary Report; penalty
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Terms Used In New Jersey Statutes 17:23-35
- 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
54. Any insurer failing, without just cause, to timely file the ORSA Summary Report as required in sections 46 through 56 of P.L.2014, c.81 (C. 17:23-27 through C. 17:23-37) shall be required, after notice and opportunity for a hearing, to pay a penalty of up to $5,000 for each day’s delay, to be recovered by the commissioner and the penalty so recovered shall be paid into the General Fund of this State.
L.2014, c.81, s.54.