N.J.S.A. 17B:27B-15 — Immediate suspension of license, registration, grounds.

17B:27B-15 Immediate suspension of license, registration, grounds. 15. The commissioner may, without advance notice or hearing, immediately suspend the license or registration of a third party administrator if he finds that one or more of the following circumstances exist: a. the administrator is insolvent or impaired; b. a proceeding for receivership, conservatorship, rehabilitation or other delinquency proceeding regarding the administrator has been commenced in another state; or c. the financial condition or business practices of the administrator otherwise pose an imminent threat to the public health, safety or welfare of the residents of this State. L.2001,c.267,s.15.

This is the verbatim text of N.J.S.A. 17B:27B-15, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.