Rutgers Law

New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

    Chapter 16u: Findings, declarations relative to voluntary compliance reviews by depository institutions

      Section: 17:16u-5: Privileges not applicable, conditions

           5. a. The provisions of sections 3 and 4 of this act shall not apply if:

(1) an enforcement action is taken, that enforcement action is contested, and a court of competent jurisdiction, by order in accordance with the rules of discovery set forth in the Rules Governing the Courts of the State of New Jersey, requires disclosure of materials and documents pertaining to that enforcement action;

(2) there is a statutory requirement that the violation identified or discovered as a result of the voluntary compliance review be reported.

b. The disclosure authorized under paragraphs (1) and (2) of subsection a. of this section shall apply only to those sections and portions of the voluntary compliance review report that pertain to the specific violation which is the subject of the enforcement action. All other sections and portions of the voluntary compliance review report shall remain privileged.

c. If there is a dispute concerning the sections or portions of the voluntary compliance review report subject to disclosure, a court of competent jurisdiction, upon petition of either party, shall conduct an in camera review of those sections or portions subject to dispute.

L.1999,c.18,s.5.



This section added to the Rutgers Database: 2013-06-10 16:36:30.

Older versions of 17:16u-5 (if available):

Court decisions that cite this statute: CLICK HERE.