N.J. Stat. § 45:22-10

Current through L. 2024, c. 80.
Section 45:22-10 - Investigation by commissioner; other investigations

The Commissioner of Banking and Insurance may at any time investigate the business of all licensees, either personally or by any person designated by him, and for the purpose of effectuating this article the Commissioner of Banking and Insurance or the person so designated shall have free access, during the usual business hours, to the licensee's place of business, to the books, papers, records, safes and vaults of the licensee wherever located, and shall also have the authority to examine, under oath, any person whose testimony he may require relative to such business. The cost and charges of any such examination or investigation shall be borne by the licensee. Absent a determination by the commissioner that good cause exists, the cost of the examination shall not exceed $2,500. The examination shall be conducted in accordance with generally accepted examination procedures and pursuant to established and objective criteria developed by the commissioner. The department shall issue to the licensee an itemized invoice setting forth the number of hours and the work performed in connection with the examination.

N.J.S. § 45:22-10

Amended by L. 2007, c. 81,s. 27, eff. 5/4/2007.
L. 2001, c. 388, s. 1, eff. Jan. 8, 2002.
L. 2007, c. 81,s. 29, states, "This act shall take effect immediately, but remain inoperative until July 1, 2006, and if enacted after that date, shall be retroactive to July 1, 2006; except that provisions of this act which amend the term of a license shall remain inoperative until the Commissioner of Banking and Insurance adopts regulations establishing the new license terms authorized by this act. The Commissioner of Banking and Insurance may immediately undertake action to promulgate any regulation necessary to implement the provisions of this act." .