N.J.S.A 17:33A-5.1 Surcharge for insurance fraud.

17:33A-5.1 Surcharge for insurance fraud.

53. In addition to any other penalty, fine or charge imposed pursuant to law, a person who is found in any legal proceeding to have committed insurance fraud shall be subject to a surcharge in the amount of $1,000. If a person is charged with insurance fraud in a legal proceeding and the charge is resolved through a settlement requiring the person to pay a sum of money, the person shall be subject to a surcharge in an amount equal to 5 percent of the settlement payment. The amount of any surcharge under this section shall be payable to the Treasurer of the State of New Jersey for use by the Department of Banking and Insurance to fund the department’s insurance fraud prevention programs and activities.

L.2002,c.34,s.53.

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Original Text maintained by the State of New Jersey:

NJ Maintained Unanotated Statutes References to 17:33A-5.1 Surcharge for insurance fraud.

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