P&CNJmedium
Under N.J.S.A. 17:22A-40, which of the following is NOT an enumerated ground on which DOBI may deny, suspend, revoke, or refuse to renew a New Jersey producer's license?
AConviction of a felony
Failure to maintain a residence within a specific NJ county relative to the producer's principal office
CMisappropriation of premium funds entrusted to the producer in connection with any insurance transaction
DMaterial misrepresentation on the license application
Why this is the answer
N.J.S.A. 17:22A-40 enumerates the grounds for DOBI license discipline: felony convictions, providing materially incorrect information on the application, violating insurance laws or regulations, misappropriating premium or other money belonging to the insurer or insured, unfair trade practices under N.J.S.A. 17:29B-4, and similar misconduct. A county-of-residence rule is not among them; NJ does not condition producer licensing on residence within a particular county relative to the producer's office.
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