N.J. Stat. § 17:16D-5
Action by commissioner on application
New Jersey · New Jersey Statutes Title 17 — Corporations and Institutions for Finance and Insurance · Status: effective
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- Citation
- N.J. Stat. § 17:16D-5, Action by commissioner on application, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1443333
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Full text
Upon the filing of an application and the payment of the license fee the commissioner shall make an investigation of each applicant and shall issue a license if he finds the applicant is qualified in accordance with this act. If the commissioner does not so find, he shall, within 30 days after he has received such application, so notify the applicant and at the request of the applicant, give the applicant a full hearing.
The commissioner shall issue or renew a license as may be applied for when he is satisfied that the person to be licensed--
(a) Is competent and trustworthy and intends to act in good faith in the capacity involved by the license applied for,
(b) Has a good business reputation and has had experience, training, or education so as to be qualified in the business for which the license is applied for, and
(c) If a corporation is a corporation incorporated under the laws of this State or a foreign corporation authorized to transact business in this State.