New Jersey § 52:4d-7

§ 52:4d-7.

A non-participating manufacturer shall not be listed in the directory of manufacturers

established pursuant to section 4 of P.L.2003, c. 25 ( C.52:4D-7 ) unless and until it posts a bond for the benefit of the State in the manner described

herein: a. The bond shall be posted by corporate surety located within the United States in

an amount equaling the greatest required escrow due from the non-participating manufacturer

or its predecessor for any of the four preceding calendar years or $25,000, whichever

amount is higher; b. The bond shall be conditioned on the performance by the non-participating manufacturer

of all its duties and obligations imposed by section 3 of P.L.1999, c. 148 ( C.52:4D-3 ), section 3 of P.L.2003, c. 25 ( C.52:4D-6 ), section 5 of P.L.2003, c. 25 ( C.52:4D-8 ) and section 6 of P.L.2003, c. 25 ( C.52:4D-9 ); c. If a non-participating manufacturer that posted a bond has failed to make or have

made on its behalf deposits equal to the full amount of escrow owed for a given year,

within fifteen days following the due date for the deposit the State may execute upon

the bond to recover any amount the non-participating manufacturer failed to deposit

into escrow, as well as civil penalties, the costs of investigation, costs of the

action and reasonable attorneys' fees pursuant to subsections a. and c. of section

8 of P.L.2003, c. 25 ( C.52:4D-11 ); and d. Beginning on April 30, 2015, the bond shall be posted or updated by the end of

each quarter of each calendar year as a condition to the inclusion of a non-participating

manufacturer and its brand families in the directory of manufacturers, and proof of

the sufficiency of such bond shall be submitted quarterly.