2017 New Jersey Revised Statutes
TITLE 17B - INSURANCE
Section 17B:27B-15 - Immediate suspension of license, registration, grounds.

17B:27B-15 Immediate suspension of license, registration, grounds.

15. The commissioner may, without advance notice or hearing, immediately suspend the license or registration of a third party administrator if he finds that one or more of the following circumstances exist:

a. the administrator is insolvent or impaired;

b. a proceeding for receivership, conservatorship, rehabilitation or other delinquency proceeding regarding the administrator has been commenced in another state; or

c. the financial condition or business practices of the administrator otherwise pose an imminent threat to the public health, safety or welfare of the residents of this State.

L.2001,c.267,s.15.

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