§ 17:45-13 — Failure to file annual statement or answer inquiries; penalty; authority to cease on notice

Any such association which neglects to make and file its annual statement in the form and within the time provided by section 17:45-12 of this Title or to reply in writing to inquiries of the commissioner within such reasonable time as may be specified by him shall forfeit twenty-five dollars ($25.00) for each day's neglect, to be recovered in a civil action, and upon notice by the commissioner to that effect its authority to do new business in this State shall cease while such default continues. Amended by L.1953, c. 17, p. 275, s. 157.