New Jersey § 17:1c-48
Full text of New Jersey New Jersey Statutes § 17:1c-48, with citation guidance and answers to common questions.
§ 17:1c-48.
a. A depository institution that submits figures on assets, deposits or any other
factor used by the department to compute the depository institution's assessment that
are substantially or materially in error shall be liable for an administrative penalty
not to exceed $10,000 for each submission that contains incorrect information. b. A licensee that submits figures on loan volume, number of branches, or any other
factor used by the department to compute the licensee's assessment that are substantially
or materially in error shall be liable for an administrative penalty not to exceed
$10,000 for each submission that contains incorrect information. c. In addition to any monetary penalty that may be imposed against a licensee pursuant
to subsection b. of this section, the commissioner may take action to revoke, suspend
or refuse to renew the license of a licensee that submits substantially or materially
erroneous figures in violation of the provisions of this act. 1 The suspension, revocation or refusal to renew a license shall be in addition to
any monetary penalty imposed pursuant to subsection b. of this section. d. The administrative penalty authorized pursuant to this section may be recovered
in a summary proceeding in accordance with the “Penalty Enforcement Law of 1999,” P.L.1999, c. 274 ( C.2A:58-10 et seq. ). A willful violation of this section shall be considered a crime of the third degree. 1
L.2005, c. 199.
Frequently Asked Questions About New Jersey § 17:1c-48
What does New Jersey Statutes § 17:1c-48 cover?
Section 17:1c-48 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:1c-48?
A common citation format is "New Jersey Statutes § 17:1c-48" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:1c-48 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.