Which of the following statements about branch offices is incorrect?

The statement regarding branch offices being required to be open from 9 to 5, 5 days a week is incorrect. While the New Jersey regulations require that branch offices operate in compliance with state laws, they do not mandate specific hours of operation. There is flexibility in operating hours, allowing branch offices to set schedules that may better suit their business needs and customer service strategies.

The requirement for a licensed manager at each branch ensures compliance with state regulations and the proper oversight of insurance transactions. Additionally, branch offices are permitted to serve multiple lines of insurance, which broadens the services they can offer to customers. Compliance with state regulations is a fundamental aspect of operating any branch office, ensuring that they adhere to licensing, reporting, and operational standards set by the state.