New Jersey Administrative Code

(a) Applications shall be filed with the Commissioner within 20 work days after the insured has signed it or within 20 work days of the inception date of the policy, whichever is earlier. All applications shall be made by filing the appropriate application form included in the Ap…

(a) Premium charges in excess of those produced by the rating system approved for the submitting company shall be reasonable and adequate and not unfairly discriminatory, and shall be proportionate to the additional hazard, subject to the following provisions on business for whic…

(a) The Commissioner shall approve applications complying with the requirements contained in N.J.A.C. 11:4-7.1 through 7.4 on a current basis, and shall provide notice of such approval to the submitting carrier. (b) The Commissioner shall disapprove applications that fail to comp…

(a)N.J.S.A. 17B:17-13.1 provides that qualified organizations as defined therein may enter into annuity agreements under conditions which are different from those which are applicable to organizations which are deemed to be insurers. This subchapter protects the interest of indiv…

If any provision of this subchapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect the provisions or applications of this subchapter which can be given effect without the invalid provision or application, and for this pur…

Failure to comply with the provisions of this subchapter will subject any special permit holder to the penalties provided by N.J.S.A. 17B:17-13.1d and any other penalties available to the Commissioner. Notes N.J. Admin. Code § 11:4-8.11 Amended by R.1985 d.94, effective 3/18/1985…

The following words and terms, when used in this subchapter, shall have the following meanings unless the context clearly indicates otherwise: "Commissioner" means the Commissioner of the Department of Banking and Insurance. "Deferred annuity" means an annuity where the first ann…

(a) A qualified organization proposing to enter into an annuity agreement pursuant to N.J.S.A. 17B:17-13.1 shall first apply to the Commissioner for approval as a special permit holder. The application shall be in a form prescribed by the Commissioner. An application shall includ…

(a) An application for a special permit shall include a copy of each form of agreement that the applicant proposes to issue to annuitants. If a special permit holder intends to change or replace an existing agreement, or add a new form of agreement, the special permit holder shal…

(a) The original consideration for periodic payments payable to the holder of a charitable annuity may not be less than the net single premium, computed according to interest and mortality assumptions permitted by N.J.S.A. 17B:19-1 et seq. for guaranteed periodic payments, plus a…

(a) Each special permit holder shall have and maintain segregated assets at least equal to the sum of: 1. The reserves on its outstanding agreements calculated in accordance with the provisions of N.J.S.A. 17B:19; and 2. A surplus equal to $ 100,000 or to ten per cent of the amou…

(a) The segregated assets held by a special permit holder shall be invested pursuant to the standards set forth at N.J.S.A. 3B:20-11.1 et seq. An application for a special permit shall include the applicant's plan of operation for the segregated account. The plan of operation sha…

(a) As of December 31 of the calendar year in which a special permit is issued, and as of December 31 of each succeeding calendar year, the holder of a special permit shall submit a report to the Commissioner. Such report shall be submitted to the Commissioner within 120 days fol…

Forms previously filed or approved by the Commissioner pursuant to N.J.S.A. 17B:17-13.1 that are not in compliance with this subchapter shall be refiled with the annual report for calendar year 2004 or the first fiscal year ending after December 31, 2004. Notes N.J. Admin. Code §…

(a) This subchapter establishes data requirements and filing procedures for participating insurers in rating organizations or advisory organizations to adopt or modify a rating organization's or advisory organization's approved prospective loss costs. (b) This subchapter applies …

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise: "Advisory organization" means any group, association or other organization of insurers, whether located within or outside this State, th…

(a) Rating organization or advisory organization advisory prospective loss cost filings shall be submitted to the Commissioner and shall include the advisory prospective loss costs and the underlying loss data and other supporting actuarial information for any calculations or ass…

(a) In order for an insurer to incorporate a rating organization's or advisory organization's approved prospective loss costs to establish its own rates, an insurer shall: 1. Be a participating insurer in the rating organization; and 2. File its loss costs multiplier using the Fi…

Rating organizations, advisory organizations and insurers which fail to comply with the filing submission requirements of this subchapter shall be subject to penalties as provided by law. Notes N.J. Admin. Code § 11:4-9.5 Amended by R.2006 d.132, effective 4/17/2006. See: 37 N.J.…

The Real Estate Commission is responsible for the supervision and regulation of the education, examination and licensing of real estate brokers, broker-salespersons, salespersons, and referral agents; the regulation of the sale or lease of out-of-State properties to New Jersey re…

The organizational chart of the Real Estate Commission is as follows: Click here to view image Notes N.J. Admin. Code § 11:5-1.2 Amended by R.1989 d.324, effective 5/24/1989. See: 21 N.J.R. 1364(a), 21 N.J.R. 1709(a). Amended by R.1998 d.497, effective 10/5/1998. See: 30 N.J.R. 2…

(a) The Commission is comprised of four sections whose functions are as follows: 1. The Investigations Unit is responsible for investigating the qualifications of applicants for licensure and for investigating complaints against licensed brokers, broker-salespersons, salespersons…

With the exception of the records designated as non-public in N.J.A.C. 11:5-1.5(g), the public may obtain information or make submissions or requests concerning any Commission functions by contacting the Real Estate Commission, Department of Banking and Insurance, PO Box 328, Tre…

(a) The New Jersey Real Estate Commission makes, maintains and keeps records as listed in (b) through (g) below. (b) Current and computerized public licensing records are available at the Commission's office for inspection and copying during normal business hours upon sufficient …

Unless otherwise specified in this subchapter, the procedures governing the promulgation of administrative rules by the New Jersey Real Estate Commission pursuant to the authority granted in N.J.S.A. 45:15-6, 45:15-10.14, 45:15-16.49, 45:15-17(t), 45:15-17.4 and 45:15-42 shall be…

(a) The Commission shall provide primary notice of any proposal to adopt a new rule, or amend or repeal any existing rule, by filing such notice with the Office of Administrative Law for publication in the New Jersey Register through the procedures established in N.J.S.A. 52:14B-…

(a) For a period of no less than 30 days following the publication of any proposal to adopt a new rule, or amend or repeal an existing rule, the Commission shall afford all interested persons reasonable opportunity to submit written comments on the proposal in accordance with the…

(a) The Commission may hold a public hearing to gather information concerning any proposed rule, amendment, or repeal. (b) The Commission shall publish a notice of the place, date and time of the hearing at least 15 business days before the date of the hearing. (c) If, during the…

N.J.A.C. 11:5-10.5, 10.6 and 10.7 shall apply to all petitions made by interested persons for the adoption of a new rule, or the amendment or repeal of any existing rule by the New Jersey Real Estate Commission, in accordance with N.J.S.A. 52:14B-4(f). Notes N.J. Admin. Code § 11…

(a) Any interested person may petition the Real Estate Commission to adopt a new rule, or amend or repeal an existing rule. Such interested person shall be deemed a "petitioner." The petitioner may include with any petition the text of the proposed new rule, amended rule or repea…

(a) Subsequent to making a determination that a petition is in substantial compliance with N.J.A.C. 11:5-10.6, the Commission shall file a notice of petition with the Office of Administrative Law for publication in the New Jersey Register. The Commission's notice shall include: 1…

(a) Pleadings before the Commission shall be orders to show cause, complaints, answers, petitions, and motions, which for purposes of these rules are defined as follows: 1. "Orders to show cause" means orders issued by the Executive Director on behalf of the New Jersey Real Estat…

(a) Initial denials of the following applications may be appealed to the Real Estate Commission through compliance with all of the requirements established in (b) below: 1. License applications; 2. Applications from disabled veterans for education waivers and/or broker experience…

(a) Any party against whom an order to show cause or complaint is directed and who desires to contest the same or make any representation to the Commission in connection therewith shall file an answer in writing with the Commission. (b) The answer shall apprise the Commission ful…

(a) Promptly after the answer is filed, the Commission will review the pleadings at a Commission meeting and decide whether any material fact or issue of law is contested. If the Commission determines that a matter is contested, a hearing will be scheduled. On its own motion or a…

(a) In all matters heard by the Commission, motions and replies shall be made in the manner and form prescribed by the rules which establish the procedures for motion practice before the Office of Administrative Law, N.J.A.C. N.J.S.A. 1:1-12. In construing those rules, the terms …

The Executive Director may, on behalf of the Commission, issue an Order to Show Cause requiring a licensee or other person to appear before the Commission for a hearing, pursuant to the rules of the Office of Administrative Law, in circumstances where violations of N.J.S.A. 45:15…

(a) In all matters heard by the Commission, the imposition of sanctions for the failure to appear and/or to comply with any order of the Commission or the requirements of these procedural rules shall be governed by the procedures established for the imposition of sanctions in mat…

(a) The parties to a proposed settlement shall present the settlement to the Commission pursuant to the requirements of N.J.A.C. 1:1-19.1. (b) Such a settlement shall be presented to the Commission during the public session of a Commission meeting. Should a proposed settlement be…

(a) All final decisions of the Real Estate Commission on contested and uncontested matters shall be reduced to writing, in the form of an Order of the Commission, which shall be served upon all parties to the matter either personally or by registered or certified mail sent to the…

(a) The Commission may on its own motion, and upon the terms and conditions as set forth in N.J.S.A. 45:15-17.1 and as the Commission deems appropriate, enter an order temporarily suspending the license of any licensee upon making a finding that prima facie evidence exists that: …

(a) The purpose of this subchapter is to implement N.J.S.A. 45:15-16.2a et seq. by establishing continuing education requirements for real estate brokers, broker-salespersons and salespersons as a condition of biennial licensure renewal, and by establishing standards for the appr…

(a) An applicant seeking approval from the Commission to become an approved continuing education instructor shall submit a completed application on forms provided by the Commission with the required fee. An application for approval as a continuing education instructor shall inclu…

(a) Except as set forth in (b) below, all continuing education courses shall require approval by the Commission. An applicant seeking approval of a course by the Commission shall submit a complete application on a form provided by the Commission with the required fee. An applicat…

(a) All courses shall be instructional and contribute to the professional competence of individuals engaged in the practice of real estate brokerage. (b) In order to qualify for approval, courses may but are not required to compel a licensee to pass a comprehensive examination te…

(a) The following are approved topic areas for elective continuing education courses: 1. Commercial real estate; 2. Property management; 3. Seasonal rentals; 4. Requirements of and transactions subject to the Real Estate Sales Full Disclosure Act and the New Jersey Real Estate Ti…

(a) The Commission may approve distance learning continuing education courses that include periodic progress assessments and the achievement of a satisfactory level of performance by the licensee on such progress assessments as a condition to continuing to a succeeding segment of…