New Jersey Statutes 17:1C-48. Liability for errors, penalties; third degree crime
Attorney's Note
Under the New Jersey Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| crime of the third degree | between 3 and 5 years | up to $15,000 |
Terms Used In New Jersey Statutes 17:1C-48
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
b. A licensee that submits figures on loan volume, number of branches, or any other factor used by the department to compute the licensee’s assessment that are substantially or materially in error shall be liable for an administrative penalty not to exceed $10,000 for each submission that contains incorrect information.
c. In addition to any monetary penalty that may be imposed against a licensee pursuant to subsection b. of this section, the commissioner may take action to revoke, suspend or refuse to renew the license of a licensee that submits substantially or materially erroneous figures in violation of the provisions of this act. The suspension, revocation or refusal to renew a license shall be in addition to any monetary penalty imposed pursuant to subsection b. of this section.
d. The administrative penalty authorized pursuant to this section may be recovered in a summary proceeding in accordance with the “Penalty Enforcement Law of 1999,” P.L.1999, c.274 (C. 2A:58-10 et seq.). A willful violation of this section shall be considered a crime of the third degree.
L.2005,c.199,s.16.