New Jersey Revised Statutes § 17:23-35 - Failure To File Orsa Summary Report; Penalty.

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

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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Last modified: October 11, 2016