New Jersey Administrative Code
Title 3 - BANKING
Chapter 15 - RESIDENTIAL MORTGAGE LENDERS; CORRESPONDENT MORTGAGE LENDERS; MORTGAGE BROKERS; QUALIFIED INDIVIDUAL LICENSEES; MORTGAGE LOAN ORIGINATORS
Subchapter 3 - BONDING
Section 3:15-3.6 - Surety companies to notify Department of claims; claims payable only at the direction of the Department

Universal Citation: NJ Admin Code 3:15-3.6

Current through Register Vol. 56, No. 18, September 16, 2024

When a person submits a claim with a surety company against the bond of a business licensee, the surety company shall immediately notify the Department and shall not pay any claim unless and until it receives direction to do so from the Department.

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