|State of New Jersey
Department of Banking and Insurance
P.O. Box 327
Trenton, New Jersey 08625-0327
|BOND NUMBER: ______________|
|Public Adjuster Bond|
We, ___________________________________________ (licensee), of ___________________________ (street address), city of ___________________________, State of _______________, as principal, and ______________________________________, a corporation incorporated under the laws of the State of New Jersey, and duly licensed to transact a surety business in the State of New Jersey, as surety, are indebted to the State of New Jersey, obligee, in the penal sum of $ _______________, for which payment we bind ourselves and our respective heirs, legal representatives, successors, and assigns, jointly and severally.
The principal has applied to the Commissioner of Banking and Insurance of the State of New Jersey for issuance of a license under the provisions of the Public Adjusters' Licensing Act, P.L. 1993, c. 66, ( N.J.S.A. 17:22B-1 et seq.), as a public adjuster.
Pursuant to the Public Adjusters' Licensing Act, P.L. 1993, c. 66, ( N.J.S.A. 17:22B-1 et seq.), every licensee shall file with the Commissioner of Banking and Insurance a surety bond in the penal sum of $ _______________ applicable to the licensee, and temporary sublicensees named in the license, and any temporary sublicensee sponsored by the licensee, if any. Said bond to be issued by an approved surety, conditioned on faithful and honest conduct as a public adjuster, before the license shall be issued. The bond must be maintained during athe term of the license.
The condition of this bond is that if the principal, licensee, or any sublicensees of the licensee, if any, conducts her, his or its business as a public adjuster faithfully, honestly, and in accordance with law, and if the principal, licensee or any sublicensee of the licensee, if any, faithfully complies with and abides by the provisions of N.J.S.A. 17:22B-1 et seq., and all rules and regulations promulgated pursuant thereto, and any amendments thereto, and will commit no willful, malicious or wrongful act, and perform all obligations and undertakings when engaging as a public adjuster in this State, and will pay to the State any and all money that may become due and owing to the State under and by virtue of the provisions of N.J.S.A. 17:22B-1 et seq., then this obligation will be null and void; otherwise it shall remain in full force and effect.
This bond is issued subject to the following express conditions, fulfillment of which shall be precedent to all rights of recovery hereunder.
Executed at this _______________ day of __________________ 19____, effective immediately.
|The State of New Jersey
Under the Public Adjusters' Licensing Act
P.L. 1993, c. 66 (N.J.S.A. 17:22B-1 et seq.)
Filed ____________________________________, 19 _______
Commissioner of Banking and Insurance