17:17A-3 - Violations; notice of hearing; cease and desist order - New Jersey Statutes

17:17A-3.  Violations;  notice of hearing;  cease and desist order
    Whenever the Commissioner of Banking and Insurance has reason to believe that there is a violation of this act, he shall serve upon the insurer or insurers and the director or directors, as the case may be, a notice of a hearing before the Commissioner of Banking and Insurance to be held not less than thirty days after the service of such notice, and requiring such insurer or insurers and such director or directors, as the case may be, to show cause why an order should not be made by the Commissioner of Banking and Insurance directing such insurer or insurers and such director or directors, as the case may be, to cease and desist from such violation.

    If, upon such hearing, the Commissioner of Banking and Insurance finds that  there has been a violation of this act he shall issue and cause to be served  upon such insurer or insurers and such director or directors, as the case may  be, an order reciting the facts found by him, and setting forth the respects in  which there has been a violation of this act, and directing such insurer or  insurers and such director or directors, as the case may be, to cease and  desist from such violation.

    Any such cease and desist order of the Commissioner of Banking and Insurance  shall be subject to review by the Superior Court in a proceeding in lieu of  prerogative writ.

     L.1948, c. 157, p. 893, s. 3.  Amended by L.1953, c. 17, p. 236, s. 106.