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Code · New Jersey · Title 17 — Notice and Publication · Chapter 14A

17:14A-74. Penalty for failure to comply with commissioner's order as to ultra vires, unlawful and unsafe practices

140 words·~1 min read·/nj/title-17/chapter-14a/17-14a-74·

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A safe deposit company which continues to violate the provisions of its certificate of incorporation or which continues to conduct its business in violation of any law of this State, or in an unsafe manner, after having been ordered by the commissioner to cease those practices, shall be liable to a penalty of $1,000.00 to be recovered with costs by the State in a court of competent jurisdiction in a civil action prosecuted by the Attorney-General, and it shall be liable to a like penalty for each day's additional default from and after the time specified in the order.
The penalty provided by this section shall be in addition to and not in lieu of any other provision of law applicable upon a safe deposit company's failure to comply with an order of the commissioner.
L.1983, c. 566, s. 17:14A-74.
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