17:48A-18. Expense of examination; gifts, etc., to departmental employees
142 words·~1 min read·
/nj/title-17/chapter-48a/17-48a-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The reasonable expense of such examination shall be fixed and determined by the Commissioner of Banking and Insurance, and he shall collect the same from the corporation examined, which shall pay same on presentation of a detailed account of such expense. In case any corporation, after such examination, shall be adjudged by the Superior Court to be insolvent, the expense of such examination, if unpaid, shall be ordered paid out of the assets of the corporation. No corporation shall, either directly or indirectly, pay, by way of gift, credit or otherwise, any other further sum to the commissioner or to any person in the employ of the Department of Banking and Insurance, for extra service or for purposes of legislation, or for any other purpose whatsoever.
L.1940, c. 74, p. 195, s. 18. Amended by L.1953, c. 17, p. 295, s. 185.