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

17:16C-80. Notice and hearing upon refusal of license If the commissioner refuses to issue a license he shall: (a) Notify the applicant of the denial and of his right to request a hearing within 10 days; (b) If the applicant does not request a hearing, return the sum paid as a li…

17:16C-81. Transaction of business under other names or at other locations; change of location or employer (a) No home repair contractor or home financing agency shall transact any business subject to this act under any other name or maintain an office at any other location than …

17:16C-82 License fees payable by home financing agency. 21. (a) With respect to a license fee imposed prior to the implementation of the assessment pursuant to P.L.2005, c.199 (C.17:1C-33 et al.), every home financing agency shall pay to the commissioner at the time of making th…

17:16C-83. Abatement in amount of license fee; expiration of license No abatement in the amount of the said license fee shall be made if the license is issued for less than 1 year, nor if the license is surrendered, canceled or revoked prior to the expiration of the period for wh…

17:16C-84. Suspension, revocation or refusal to renew license; notice; grounds The commissioner may suspend, revoke or refuse to renew any license issued hereunder, upon 10 days' notice in writing, forwarded by registered or certified mail to the principal place of business or re…

17:16C-85. Investigations by commissioner; oaths and affirmations; power to administer The commissioner shall have power to make such investigations as he shall deem necessary, and may examine the books, accounts, records and files of any person who is a party to or holder of a h…

17:16C-86. Issuance of subpoenas; failure to comply; order of superior court; contempt The commissioner shall have the power to issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records and other evidence before him in any matte…

17:16C-87 Maintenance, preservation of books, accounts, records, annual report; violations, penalties. 26. a. Every home repair contractor, home financing agency and holder of a home repair contract shall maintain at its place or places of business such books, accounts and record…

17:16C-88. Sale, transfer or assignment of obligation or evidence (a) No holder shall sell, transfer or assign any obligation in connection with a home repair contract or any evidence of indebtedness thereunder to any person who is not authorized as a home financing agency, excep…

17:16C-89. Violations; penalties; enforcement (a) Any home repair contractor, home financing agency or holder of a home repair contract and any officer, partner, member, employee, agent or representative of either who shall knowingly violate any provision of this act or shall dir…

17:16C-9. Abatement in amount of fee; expiration of license No abatement in the amount of the said license fee shall be made if the license is issued for less than 1 year, nor if the license is surrendered, canceled or revoked prior to the expiration of the period for which such …

17:16C-90. Partial invalidity If any provision of this act or the application thereof to any person or circumstances is held unconstitutional, the remainder of the act and the application of such provisions to other persons or circumstances shall not be affected thereby. L.1960, …

17:16C-93. Short title This act shall be known and may be cited as the "Home Repair Financing Act." L.1960, c. 41, p. 174, s. 32.

17:16C-94. Effective date This act shall take effect 90 days from the date of its approval and apply to contracts executed after the effective date of this act. L.1960, c. 41, p. 175, s. 33.

17:16C-95. Short title This act shall be known as, and may be cited as, the "Door-to-Door Home Repair Sales Act of 1968." L.1968, c. 224, s. 1.

17:16C-96. Remedial legislation; liberal construction This act being deemed and hereby declared remedial legislation necessary for the protection of the consumers of this State, shall be liberally construed to effectuate the purposes and intent thereof. L.1968, c. 224, s. 2.

17:16C-97. Legislative findings The Legislature hereby finds and declares that the consumer is frequently induced to enter into home repair contracts for goods and services which he does not need through the unsolicited and often unethical persuasion of certain door-to-door selle…

17:16C-98. Definitions As used in this act, unless the context clearly indicates otherwise: (a) "Business day" means any day other than a Saturday, Sunday or holiday. (b) "Place of business" means the main or branch office or local address of a home repair contractor. (c) "Purcha…

17:16C-99. Rescission; duties of buyer and seller; exclusion of certain sales (a) Any home repair contract, for a purchase price in excess of $25.00, which is entered into at a place other than the place of business of the home repair contractor may be rescinded by the owner if t…

17:16D-1. Short title This act shall be known and may be cited as the "Insurance Premium Finance Company Act." L.1968, c. 221, s. 1.

17:16D-10. Maximum finance charge A premium finance company shall not charge, contract for, receive, or collect a finance charge other than as permitted by this act. The finance charge shall be computed, using the actuarial method on the balance of the premiums due (after subtrac…

17:16D-11. Statement of accounts; receipts Upon the request of an insured a premium finance company shall give to the insured a written statement of his account. No more than 2 such statements shall be required in any 12-month period. An insured shall be given a written receipt f…

17:16D-12. Delinquency charges 12. a. Delinquency charges. A premium finance agreement may provide for the payment by the insured of a delinquency charge of $1.00 to a maximum of 5% of the delinquent installment but not to exceed $5.00 on any installment which is in default for a…

17:16D-13. Cancellation of insurance contract upon default (a) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in the agreement, the insurance contract or contracts shall not b…

17:16D-14. Application of unearned premiums (a) Whenever a financed insurance contract is canceled, the insurer on notice of such financing shall return whatever gross unearned premiums are due under the insurance contract to the premium finance company for the account of the ins…

17:16D-15. Exemption from any filing requirements No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent purchasers, pledgees, encumbrancers, successors, or assigns. L.1968,…

17:16D-16. Severability If any provision of this act is held invalid, the invalidity thereof shall not affect other provisions of the act which can be given effect without the invalid provision and to this end the provisions of this act are severable. L.1968, c. 221, s. 16.

17:16D-2. Definitions For the purposes of this act-- (a) "Insurance premium finance company" means a person engaged in the business of entering into insurance premium finance agreements or acquiring premium finance agreements from insurance agents or insurance brokers. (b) "Insur…

17:16D-3. Application The provisions of this act shall not apply with respect to: (a) Any insurance company authorized to do business in the State of New Jersey, (b) State associations and Federal associations, as defined in P.L.1963, chapter 144, section 5 (C. 17:12B-5), (c) The…

17:16D-4 Licenses. 4. Licenses. No person shall engage in the business of financing insurance premiums in this State without first having obtained a license as a premium finance company from the Commissioner of Banking and Insurance, except that any State or national bank authori…

17:16D-5. Action by commissioner on application Upon the filing of an application and the payment of the license fee the commissioner shall make an investigation of each applicant and shall issue a license if he finds the applicant is qualified in accordance with this act. If the…

17:16D-6. Revocation and suspension of licenses The commissioner may revoke or suspend the license of any premium finance company when and if after investigation the commissioner finds that (a) Any license issued to such company was obtained by fraud, (b) There was any misreprese…

17:16D-7 Books and records; annual report; violations, penalties. 7. Every licensee shall maintain records of its premium finance transactions which will enable the commissioner to enforce full compliance with this act and the said records shall be open to examination and investi…

17:16D-8. Power to make rules The commissioner may make and enforce such reasonable rules and regulations as may be necessary in making effective the provisions of this act, but such rules and regulations shall not be contrary to nor inconsistent with the provisions of this act. …

17:16D-9. Form of premium finance agreement A premium finance agreement shall-- (a) Be dated, signed by or on behalf of the insured, and the printed portion thereof shall be in at least 8-point type, (b) Contain the name and place of business of the insurance agent or insurance b…

17:16E-1. Purpose The purpose of this act is to further fair competition among financial institutions by prohibiting certain interlocking relationships among institutions located in the same municipality, or in contiguous or adjacent municipalities. L.1975, c. 265, s. 1, eff. Jan…

17:16E-1.1. Compliance of bank, savings bank with prohibition on interlocking relationships 25. Any bank or savings bank that is in compliance with the federal "Depository Institution Management Interlocks Act," 12 U.S.C. s.3201 et seq. and the federal regulations effectuating th…

17:16E-2. Definitions For the purposes of this act: a. "Financial institution" shall include State or National bank, trust company, savings bank, State or Federal savings and loan association, State or Federal credit union and bank holding company. b. "Municipality" means a munic…

17:16E-3. Mutual directors, officers or managers of financial institutions in same, adjacent, or contiguous municipalities; prohibition Except as otherwise provided in section 6 of this act no person who is a director, officer or manager of a financial institution which has a pri…

17:16E-4. Rules and regulations; waiver of prohibition; determination of adjacent municipalities The Commissioner of Banking shall, in accordance with the "Administrative Procedure Act," P.L. 1968, c. 410 (C. 52:14B-1 et seq.), make and issue such rules and regulations as are nec…

17:16E-5. Interlocking relationships existing prior to this act; termination Any interlocking relationship prohibited by section 3 of this act which existed prior to the effective date of this act may continue for such a reasonable period of time as may be necessary to terminate …

17:16E-6. Bank holding companies and financial institutions with common ownership; inapplicability of act Nothing in this act shall prevent a person who is a director or officer of a bank holding company from being a director or officer of any one or more banks which are subsidia…

17:16F-1. Legislative findings and declarations The Legislature hereby finds and declares that depository institutions have sometimes failed to provide adequate home financing on a nondiscriminatory basis for all neighborhoods within the communities from which these institutions …

17:16F-10. Violations after cease and desist order; penalty A depository institution which continues to violate the provisions of this act after having been ordered by the commissioner to cease such practices shall be liable to a penalty of $5,000.00 for each offense to be recove…

17:16F-11. Regulations The Commissioner of Banking is authorized and empowered to promulgate such regulations as he may deem necessary, consistent with sound banking practice, for the proper operation and enforcement of this act. L.1977, c. 1, s. 11.

17:16F-11.1 Certain offenses shall not cause discrimination when applying for mortgage; violations, penalties. 16. a. A person that makes a mortgage loan in this State shall not discriminate against an applicant in accepting an application, granting, withholding, extending, modif…