§ 17:23-2 — Penalty for not filing annual statement

A company neglecting to make and file its annual statement in the form and within the time provided by section 17:23-1 of this Title shall forfeit one hundred dollars ($100.00) for each day's neglect, to be recovered in a civil action; and upon notice by the commissioner to such effect its authority to do new business in this State shall cease while the default continues. Amended by L.1953, c. 17, p. 241, s. 113.