N.J. Stat. Ann. § 5:2A-16

Before any license is granted or renewed pursuant to subsection a. of section 14 of this act, the applicant shall execute and file with the board a bond to the State of New Jersey in an amount, not less than $10,000.00, to be fixed by the board, conditioned upon the faithful performance by the applicant of the provisions of this act and the payment of taxes herein imposed. The bond shall be in a form with sureties thereon satisfactory to the board. No license shall be renewed unless this bond has been renewed and filed with the board.