What is the maximum time frame for opening or closing a branch in New Jersey?

In New Jersey, when an insurance producer is planning to open or close a branch office, there are specific timeframes established for notifying the relevant authorities. The maximum time frame is set at 30 days. This means that an insurance producer must ensure that any intended branch office openings or closures are reported to the proper regulatory body within this 30-day period. This regulation helps maintain accountability and ensures that the state's insurance market remains well-regulated and informed about the operations of insurance producers.