In New Jersey, a Producer is required to notify the DOBI of any change in resident or business address within what period?

In New Jersey, Producers are required to notify the Department of Banking and Insurance (DOBI) of any changes in their resident or business address within a period of 30 days. This requirement ensures that the state has accurate and up-to-date records for all licensed producers, which is essential for maintaining effective communication and regulatory oversight. Keeping contact information current allows the DOBI to reach producers regarding important updates, compliance issues, or any matters that may pertain to their licensing status.

This timeframe is designed to balance the need for quick updates to the regulatory agency with the reasonable expectation that producers can inform DOBI of changes without undue burden. Ensuring compliance with this timeframe helps maintain the integrity of the licensing system in New Jersey.