Bill Text: NJ A3810 | 2020-2021 | Regular Session | Introduced

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Bill Title: Provides for two-year post-employment restriction on certain employees of the Department of Banking and Insurance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-03-16 - Introduced, Referred to Assembly Financial Institutions and Insurance Committee [A3810 Detail]

Download: New_Jersey-2020-A3810-Introduced.html

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ASSEMBLY, No. 3810

STATE OF NEW JERSEY

219th LEGISLATURE

 

INTRODUCED MARCH 16, 2020

 

 

Sponsored by:

Assemblywoman  NANCY J. PINKIN

District 18 (Middlesex)

 

 

 

 

SYNOPSIS

     Provides for two-year post-employment restriction on certain employees of the Department of Banking and Insurance.

 

CURRENT VERSION OF TEXT

     As introduced.

  

An Act concerning post-employment restrictions on certain employees of the Department of Banking and Insurance and supplementing Title 17 of the Revised Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    No employee of the Department of Banking and Insurance shall acquire any direct or indirect interest in, or accept employment with, any applicant or any person licensed, supervised or regulated by the department, for a period of two years commencing at the termination of employment by or with the department, except that a secretarial or clerical employee of the department may accept such employment at any time after the termination of employment with the department.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill prohibits an employee of the Department of Banking and Insurance, other than a secretarial or clerical employee, from acquiring a direct or indirect interest in or from being employed in the insurance or banking industry for two years after leaving the department.