New Jersey Statutes
§ 17:46B-37 — Additional penalty
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Any person who pays, allows or gives, or offers to pay, allow or give, or who receives or offers to receive any commission, rebate, discount, abatement, credit or reduction of premium or any special favor or advantage or valuable consideration or inducement whatever in violation of sections 34 and 35 of this act shall be liable to the State of New Jersey for a penalty not exceeding five times the amount of such commission, or unlawful rebate, discount, abatement, credit or reduction of premium or any special favor or advantage or valuable consideration or inducement whatever in addition to any other penalty imposed by law. L.1975, c. 106, s. 37, eff. May 29, 1975.
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Nearby Sections
15
§ 17:46B-1
Certain words defined§ 17:46B-10
Power to insure titles to real estate§ 17:46B-13
Prohibition against the practice of law§ 17:46B-14
Statutory premium reserve§ 17:46B-16
Maintenance of the statutory premium reserve§ 17:46B-18
Reserve for unpaid losses and loss expense§ 17:46B-19
Net retained liability§ 17:46B-2
Short title.§ 17:46B-20
Power to reinsure§ 17:46B-21
Minimum capital