New Jersey § 17:23-35 Failure to file ORSA Summary Report; penalty.

New Jersey Statutes

§ 17:23-35 — Failure to file ORSA Summary Report; penalty.

New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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.

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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.

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