N.J. Admin. Code § 11:15-7.28 - Orders
(a) After
notice and opportunity for a hearing, as provided in
N.J.A.C.
11:15-7.2 7, the Commissioner may issue an
order revoking or suspending a group's authority or requiring a person or fund
to cease and desist from engaging in an act or practice found to be in
violation of any provision of
N.J.S.A.
18A:64-86 et seq. or this
subchapter.
(b) Upon a finding,
after notice and opportunity for a hearing, as provided at
N.J.A.C.
11:15-7.2 7, that a group has violated any
cease and desist order, the Commissioner may revoke his or her approval of the
group.
(c) Upon a finding, after
notice and opportunity for a hearing, as provided at
N.J.A.C.
11:15-7.2 7, the Commissioner may issue an
order requiring the trustees to dismiss an administrator or servicing
organization or terminate the contract of an administrator or servicing
organization because of any fraud, material misrepresentation, incompetence or
untrustworthiness, misappropriation or conversion of monies or violation of any
fiduciary responsibilities by such administrator or servicing organization, or
any of the employees, officers or directors thereof.
Notes
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