New Jersey S1490 requires the Department of Banking and Insurance and certain professional boards to retain funds collected.
New Jersey S1490 modifies current law to authorize the Department of Banking and Insurance to retain fees, assessments, and charges paid to the commissioner. It also allows certain professional boards to retain funds collected and remaining in their treasuries as of June 30 of each year. These funds consist of fees collected from licensed individuals. The bill amends R.S.45:1-3 and R.S.17:1-8 to implement these changes.
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