New Jersey Insurance Producer Licensing Act of 2001 and Portable Electronics Limited Lines, N.J.S.A. 17:22A-26 through 17:22A-57

What this document is

New Jersey Insurance Producer Licensing Act of 2001 and Portable Electronics Limited Lines, N.J.S.A. 17:22A-26 through 17:22A-57 is a state statute published by pub.njleg.gov. It is one of the New Jersey documents that insurance license exam questions are written from, including new jersey life & health, new jersey property & casualty, new jersey personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• N.J.S.A. tit. 17B § 17:22A-42(b) (Appointment of agents; cancellation notice)

  “Upon the cancellation of an agency contract in accordance with section 1 of P.L.1970, c.217 (C.17:22-6.14a), the insurer shall within 15 days file written notice of cancellation with the commissioner. Notice of cancellation shall be on a form prescribed by the commissioner and shall indicate the...”

• N.J.S.A. tit. 17B § 17:22A-40(c) (Causes for probation, suspension, revocation, refusal to issue or renew)

  “The insurance producer license of a business entity may be suspended, revoked or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the business entity...”

• N.J.S.A. tit. 17B § 17:22A-30(a) (Construction of act; license not required)

  “Nothing in this act shall be construed to require an insurer to obtain an insurance producer license. In this section, the term "insurer" does not include an insurer's officers, directors, employees, subsidiaries or affiliates.”

• N.J.S.A. tit. 17B § 17:22A-46(c) (Fees, requirements for nonresident insurance producers, reciprocity)

  “A nonresident insurance producer's satisfaction of his home state's continuing education requirements for licensed insurance producers shall constitute satisfaction of this State's continuing education requirements if the nonresident producer's home state recognizes the satisfaction of its...”

• N.J.S.A. tit. 17B § 17:22A-35(a) (Exemptions from prelicensing education, examination)

  “An individual who applies for an insurance producer license in this State who was previously licensed for the same lines of authority in another state shall not be required to complete any prelicensing education or examination. This exemption is only available if the person is currently licensed in...”

• N.J.S.A. 17:22A-35(a) (Exemptions from prelicensing education, examination)

  “An individual who applies for an insurance producer license in this State who was previously licensed for the same lines of authority in another state shall not be required to complete any prelicensing education or examination. This exemption is only available if the person is currently licensed in...”

• N.J.S.A. 17:22A-37(a)(1) (Temporary license)

  “The commissioner may issue a temporary insurance producer license for a period not to exceed 180 days without requiring an examination if the commissioner determines that the temporary license is necessary for the servicing of an insurance business in the following cases: (1) To the surviving...”

• N.J.S.A. 17:22A-40(c) (Causes for probation, suspension, revocation, refusal to issue or renew)

  “The insurance producer license of a business entity may be suspended, revoked or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the business entity...”

• N.J.S.A. 17:22A-45(c) (Powers of commissioner)

  “Any person violating any provision of this act shall be liable to a penalty not exceeding $5,000 for the first offense and not exceeding $10,000 for each subsequent offense”

• N.J.S.A. 17:22A-38(a) (Requirements for license granting surplus lines authority)

  “No license granting surplus lines authority shall be issued or renewed unless the applicant holds or will hold property and casualty authorities.”

• N.J.S.A. 17:22A-34(f) (Nonresident insurance producer license; appointment of commissioner for service of process)

  “Each licensed nonresident insurance producer shall, by application for and issuance of, a license be deemed to have appointed the commissioner as agent to receive service of original legal process in this State in any cause of action or legal proceedings arising within this State out of...”

• N.J.S.A. 17:22A-40(c) (Causes for probation, suspension, revocation, refusal; business entity license)

  “The insurance producer license of a business entity may be suspended, revoked or refused if the commissioner finds, after hearing, that an individual licensee's violation was known or should have been known by one or more of the partners, officers or managers acting on behalf of the business entity...”

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More New Jersey sources

• N.J.S.A. 17:29B-4: Unfair methods of competition and deceptive acts definedState statute
• N.J.S.A. Title 17 Chapter 1 - Department of Banking and Insurance; the Commissioner's powers (17:1-1 through 17:1-28, 23 sections)State statute
• N.J.S.A. Title 17 Chapter 16C - Retail Installment Sales Act (17:16C-1 through 17:16C-103, 125 sections)State statute
• N.J.S.A. Title 17 Chapter 1C - Department expenses, apportionment and assessment (17:1C-6.1 through 17:1C-48, 32 sections)State statute
• N.J.S.A. Title 17 Chapter 28 - Insurance policy provisions, including compulsory uninsured and underinsured motorist coverage (17:28-1 through 17:28-8, 16 sections)State statute
• N.J.S.A. Title 17 Chapter 29A - Rates and rating organizations (17:29A-1 through 17:29A-62, 73 sections)State statute
• N.J.S.A. Title 17 Chapter 29AA - Commercial insurance deregulation (17:29AA-1 through 17:29AA-34, 35 sections)State statute
• N.J.S.A. Title 17 Chapter 29B - Unfair trade practices in the business of insurance, complete chapter (17:29B-1 through 17:29B-19, 20 sections)State statute