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New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 29B-18

Current as of January 01, 2024 | Updated by Findlaw Staff

a. A person aggrieved by a violation of this act may file a complaint with the Commissioner of Banking and Insurance. Upon receipt of the complaint, the commissioner shall investigate an insurer to determine whether the insurer has violated any provision of this act.

b. The commissioner may:

(1) order an insurer that is in violation to pay a monetary penalty of $ 5,000 for each violation;

(2) order the insurer to make restitution to the aggrieved person; or

(3) obtain equitable relief in a State or federal court of competent jurisdiction against an insurer, as well as the costs of suit, attorney's fees and expert witness fees.

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Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 29B-18 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-29b-18/

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