Title 17, Title 17: CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

17:14A-85. Custodial possession by commissioner; surety bond A safe deposit company shall file and keep on file with the commissioner a surety bond obtained from a surety company authorized to transact business in this State in an amount of not less than $25,000.00 and in form pr…

17:14A-86. Standards for vaults Vaults shall have walls, floors and ceiling of reinforced concrete at least 12 inches in thickness constructed as follows: a. Two grids of #5 ( 5/8 " diameter) deformed steel bars located in horizontal and vertical rows in each direction to form gr…

17:14A-87. Standards for vault doors Vault doors shall be made of steel at least 3 1/2 inches in thickness, or other drill and torch resistant material, and be equipped with a dial combination lock, a time lock, and a substantial lockable day-gate gate. L.1983, c. 566, s. 17:14A-…

17:14A-88. Standards for safes A safe shall weigh at least 750 pounds empty, or be securely anchored to the premises where located. The body shall consist of steel, at least one inch in thickness, either cast or fabricated, with an ultimate tensile strength of at least 50,000 pou…

17:14A-89. Safe deposit box standards A safe deposit box used to store and safeguard a lessee's personal property shall be enclosed in a vault or safe meeting the minimum standards set forth in R.S. 17:14A-86 and R.S. 17:14A-87 or R.S. 17:14A-88. L.1983, c. 566, s. 17:14A-89.

17:14A-9. Application to commissioner for approval; notice of hearing The certificate of incorporation and the bylaws shall be submitted to the commissioner for his approval. Within 10 days thereafter, the commissioner shall give written notice to each incorporator, of the time a…

17:14A-90. Surveillance systems A surveillance system shall be provided for each office of a safe deposit company which shall: a. Be equipped with one or more photographic, recording, monitoring, or like devices capable of reproducing images of persons in the safe deposit company…

17:14A-91. Robbery alarm systems A robbery alarm system shall be provided for each office of a safe deposit company at which the police ordinarily can arrive within five minutes after an alarm is actuated. Robbery alarm systems shall be: a. Designed to transmit to the police, eit…

17:14A-92. Burglary alarm systems A burglary alarm system shall be provided for each office of a safe deposit company. Burglary alarm systems shall be: a. Capable of detecting promptly an attack on the outer door, walls, floor, or ceiling of each vault, and each safe not stored i…

17:14A-93. Notice of crime The board of directors of a safe deposit company shall promptly notify the commissioner of any crime committed or attempted to be committed against the safe deposit company by any person even though the crime or attempted crime has not resulted in a los…

17:14A-94. Rules and regulations In addition to other powers and duties vested in him by this chapter or by any other law, the commissioner is authorized and empowered to make reasonable rules and regulations not inconsistent with the provisions of this chapter, and specific ruli…

17:14A-95. Dissolution A safe deposit company may be dissolved in the manner provided by chapter 12 of Title 14A, Corporations, General of the New Jersey Statutes, except that filings thereunder shall be made in the department. L.1983, c. 566, s. 17:14A-95.

17:14A-96. Filing fees A safe deposit company shall pay to the commissioner for the use of the State: a. For filing an application for charter ...... $2,500.00 b. For the issuance by the commissioner for a certificate of authority .......... 100.00 c. For filing the original cert…

17:14A-97. Statutes repealed The following are repealed: R.S. 17:14-1 to R.S. 17:14-8 inclusive. L.1983, c. 566, s. 17:14A-97.

17:15A-30. Short title 1. This act shall be known and may be cited as "The Check Cashers Regulatory Act of 1993." L.1993,c.383,s.1.

17:15A-31 Definitions. 2. As used in this act: "Applicant" means a person who has applied or is in the process of applying for a license pursuant to this act. "Automated cash machine" means an unmanned communications terminal which dispenses cash, traveler's checks or both; does …

17:15A-32. License required 3. No person shall cash a check for a fee unless that person has a license. The license shall not be transferable or assignable. L.1993,c.383,s.3.

17:15A-32.1 Sale of check cashing business. 1. a. A person who is conducting business as a check casher pursuant to P.L.1993, c.383 (C.17:15A-30 et seq.), whose license was continued pursuant to section 21 of P.L.1993, c.383 (C.17:15A-50), and who is not the subject of any action…

17:15A-33. Application for licensure; requirements 4. Any person wishing to be licensed to cash checks for a fee shall: a. Submit to the commissioner a completed written application on forms prescribed by the commissioner which shall contain notice that false statements made ther…

17:15A-34. Approval of application 5. The commissioner shall approve an application for a license if: a. The applicant has complied with the requirements of section 4 of this act; b. The commissioner finds that the financial responsibility, experience, character, and general fitn…

17:15A-35 Contents of application. 6. The application for a license shall include, but not be limited to, the following: a. The name, age, business address, residence and present and previous occupations of each applicant or licensee and of each officer, owner, director, partner,…

17:15A-36. Fingerprinting, background checks for licensees 7. Each director, substantial stockholder, officer, owner, partner, manager, and employee in the check cashing business of a licensee shall submit to being fingerprinted on forms supplied by the commissioner and shall pro…

17:15A-37 Required capital, net worth, liquid assets. 8. An applicant shall prove, in a manner and form satisfactory to the commissioner, that the applicant has available for the operation of its check cashing business at each office, mobile office or automated check cashing mach…

17:15A-38. Licensee to engage services of public accountant 9. a. Each applicant shall engage and each licensee shall maintain the services of a public accountant, which accountant shall assist the licensee to maintain the records of the check cashing business in an orderly and a…

17:15A-39. License required for operation, conditions 10. No applicant for a license shall commence operations until a license has been issued. The commissioner shall not issue a license unless the following conditions have been met: a. The application for the license has been ap…

17:15A-40 Valid license, civil actions. 11. a. A license shall be valid until surrendered by the licensee, or unless revoked or suspended pursuant to this act. b. The license shall be for a term of not less than two years as set by the commissioner by regulation. c. A licensee ma…

17:15A-41. Maintenance of offices by licensee; requirements 12. a. Except as provided in subsections b., c. and d. of this section, a licensee shall have and maintain a single office at one address in the State for the transaction of business. No licensee shall change the address…

17:15A-42. Approval required for sale, transfer of business 13. Any sale or transfer of a controlling interest in a licensee's or applicant's check cashing business shall be approved by the commissioner prior to the transfer or sale, after the licensee or applicant has provided w…

17:15A-43 Fees permitted. 14. No licensee shall charge a fee or receive any other consideration, directly or indirectly, which is greater than the amount permitted pursuant to this section, as follows: a. For cashing a check drawn on a depository institution or other financial en…

17:15A-44 Responsibilities of licensee. 15. A licensee shall: a. Conspicuously display at each office, limited branch office or mobile office it operates the original license, certificate or branch authorization, as appropriate, issued by the commissioner. b. Conspicuously displa…

17:15A-45 Annual report by check cashing business; violations, penalties. 16. Each licensee shall annually file a report with the commissioner giving the information the commissioner may require concerning its check cashing business and operations during the preceding calendar ye…

17:15A-46. Right to examine books, records 17. The department shall have the right to examine the books and records, and the place or places of business of any licensee. The reasonable cost of the examination shall be borne by the licensee. The department may order that the books…

17:15A-47 Prohibitions for licensees. 18. No licensee, or any person acting on behalf of a licensee, shall: a. Cash a check which is made payable to a payee which is other than a natural person unless the licensee has on file a corporate resolution or other appropriate documentat…

17:15A-48 Revocation, suspension of license. 19. a. Except as provided in subsection c. of this section, the commissioner may revoke or suspend a license if, after notice and hearing, the commissioner determines that the licensee: (1) Has violated any provision of this act or any…

17:15A-49 Violations, penalties. 20. a. Any person who knowingly cashes a check for consideration without having first obtained a license as required by section 3 of P.L.1993, c.383 (C.17:15A-32) shall be guilty of an offense. If the face value of the check is in an amount less t…

17:15A-50 Compliance of existing licensees; nonapplicability of act. 21. a. Any person holding a license in good standing issued pursuant to "The Check Cashing Law," P.L.1951, c.187 (C.17:15A-1 et seq.), and who wishes to continue to engage in the business of cashing checks, shal…

17:15A-51. Waivers unenforceable, void 22. Any agreement to waive any requirement contained in this act shall be unenforceable and void. L.1993,c.383,s.22.

17:15A-52 Rules, regulations. 23. a. The commissioner shall promulgate rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the purposes of this act. b. If the commissioner finds that reasonable ground…

17:15C-1 Short title. 1. This act shall be known and may be cited as the "New Jersey Money Transmitters Act." L.1998,c.14,s.1.

17:15C-10 Keeping of records required. 10. a. Each licensee, shall make, keep and preserve the following books, accounts and other records for a period of three years: (1) a record of each payment instrument sold; (2) a general ledger containing all assets, liabilities, capital, …

17:15C-11 Investigation, examination of license. 11. a. The commissioner may investigate and examine any licensee or other person the commissioner deems necessary to determine compliance with this act and the orders, rules and regulations issued hereunder. For these purposes, the…

17:15C-12 Annual reports; violations, penalties. 12. a. Each licensee shall file with the commissioner an annual report containing the information required by the commissioner by regulation. b. The commissioner may require reports of any licensee or authorized delegate, under pen…

17:15C-13 Written report required upon occurrence of certain events. 13. Within 15 days of the occurrence of any one of the events listed below, a licensee shall file a written report with the commissioner describing the event and its expected impact on the licensee's activities …

17:15C-14 Approval for acquisition of control of licensee; application, fee. 14. a. A person shall not directly or indirectly acquire control of a licensee without the prior written approval of the commissioner. The application for change of control shall be in writing in a form …

17:15C-15 Confidentiality of information, reports. 15. a. Notwithstanding any other provision of law, all information or reports obtained by the department from an applicant, licensee or authorized delegate, whether obtained through reports, applications, examinations, audits, in…

17:15C-16 Suspension, revocation of license. 16. After notice and hearing pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), the commissioner may suspend or revoke a licensee's license if the commissioner finds that: a. The licensee has made a m…