New Jersey § 49:3-68

§ 49:3-68.

(a) In case of contumacy by, or refusal to obey a subpoena or order issued to, any

person, the bureau chief may, in his discretion, summarily order restraints on the

issuance, sale, offer for sale, purchase or offer to purchase, promotion, negotiation,

advertisement, or distribution from or within the State of any securities or investment

advisory advice concerning securities, by the person, or agent, employee, broker,

partner, officer, director, investment adviser representative, or stockholder thereof,

until that person has fully complied with that subpoena or order and the bureau has

completed its investigation. (b) The bureau chief may proceed in an action in a summary manner or otherwise, by

issuing a cease and desist order, by denying, revoking or suspending any registration

or exemption under this act, by assessing civil monetary penalties, or by any combination

of these actions he deems appropriate. Upon entry of such an order, the bureau chief shall promptly notify each person

subject thereto that it has been entered and of the reasons therefor. In the case of an agent, notice shall also be given to the broker-dealer with which

the agent is affiliated as shown on the Central Registration Depository, and in the

case of an investment adviser representative, notice shall also be given to the investment

adviser with which the investment adviser representative is affiliated as shown on

Form ADV, 17 C.F.R. § 279.1 , or successor federal registration form; (1) The bureau chief shall entertain on no less than three days' notice an application

to lift the summary order on written application of the person subject thereto and

in connection therewith may, but need not, hold a hearing and hear testimony, but

shall provide to the person subject thereto a written statement of the reasons for

the summary order; (2) Upon service of notice of the order issued by the bureau chief, each person subject

thereto shall have up to 15 days to respond to the bureau in the form of a written

answer and written request for a hearing. The bureau chief shall, within five days of receiving the answer and request for

a hearing, either transmit the matter to the Office of Administrative Law for a hearing,

or schedule a hearing at the Bureau of Securities. Orders issued pursuant to this section shall be subject to an application to vacate

upon 10 days' notice, and in any event a preliminary hearing on the order shall be

held within 20 days after it is requested, and the filing of a motion to vacate the

order shall toll the time for filing an answer and written request for a hearing; (3) If a person subject to the order fails to respond by either filing a written answer

and written request for a hearing with the bureau or moving to vacate the order within

the 15-day prescribed period, that person shall have waived the opportunity to be

heard and the order shall remain in effect as to that person until modified or vacated

by the bureau chief.