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  • NJ A4384
  • Revises licensure requirements for nonresidents title insurance producers.
Introduced
(12/12/2016)
In Committee
(12/12/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill amends the "New Jersey Insurance Producers Licensing Act of 2001," P.L.2001, c.210 (C.17:22A-26 et seq.) (the "Producer Act"), to revise the licensure of nonresident insurance producers that sell, solicit, or negotiate title insurance in this State. Currently, the Producer Act provides for the licensure of nonresident insurance producers to sell, solicit, or negotiate any line of insurance permitted under State law. The Producer Act places certain requirements on these out-of-State insurance producers in order to receive a nonresident insurance producer license. However, the Producer Act does not require the nonresident insurance producer to have any affiliation with a resident insurance producer, regardless of the line of insurance. This bill provides that a license will not be issued to a nonresident insurance producer that sells, solicits, or negotiates title insurance unless the nonresident insurance producer has a direct affiliation or business relationship with a resident insurance producer that sells, solicits, or negotiates title insurance and currently holds a resident insurance producer license.
Financial Institutions and Insurance
Assembly Financial Institutions and Insurance Hearing (10:00 1/12/2017 Committee Room 16, Fourth Floor)  (on 1/12/2017)
 
 
Date Chamber Action Description
1/12/2017 Assembly Financial Institutions and Insurance Hearing (10:00 1/12/2017 Committee Room 16, Fourth Floor)
12/12/2016 A Introduced, Referred to Assembly Financial Institutions and Insurance Committee
Date Motion Yea Nay Other
None specified