A company neglecting to make and file its annual statement in the form and within the time provided by section 17:23-1 of this Title shall forfeit one hundred dollars ($100.00) for each day's neglect, to be recovered in a civil action; and upon notice by the commissioner to such effect its authority to do new business in this State shall cease while the default continues.
N.J. Stat. Ann. § 17:23-2
Penalty for not filing annual statement
Known as the New Jersey Automobile Full Insurance Availability Act
The act spans §§ 17:10B-1 to 17:9A-99 (3,637 sections).
Amended by L.1953, c. 17, p. 241, s. 113.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.