How many days does a licensee in New Jersey have to notify the Department after opening a branch office?

In New Jersey, a licensee is required to notify the Department of Banking and Insurance within 30 days after opening a branch office. This requirement ensures that the Department maintains up-to-date records of all licensed entities and their locations, which is critical for regulatory oversight and consumer protection. The 30-day notification period allows the Department to assess compliance with state regulations and provide necessary guidance to the licensee regarding their operations. This timeframe reflects typical practices in many regulatory agencies, where timely communication is essential for managing licensing and ensuring accountability within the industry.