State v. Bakers' Mutual Insurance

Lane, J. C. G.

Plaintiff seeks to recover penalty for violation of N. J. S. A. 17:23-1, requiring insurance companies transacting business in New Jersey to file an annual financial statement with the Commissioner of Banking and Insurance on or before March 1.

Defendant insurance company did not file the required statement until March 21, 1957, and plaintiff, on motion, urges the court to enter judgment in its favor and against defendant in the amount of $2,100, contending that defendant is to he penalized to that extent in accordance with the pertinent provision of N. J. S. A. 17 :23-2:

“Penalty…