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

17:11C-66 Construction of act relative to maintenance of office in-State. 16. a. Nothing in this act shall be construed to require a business licensee that is licensed as a residential mortgage lender or residential mortgage broker to maintain an office in this State so long as i…

17:11C-67 Regulations relative to license. 17. a. (1) The license for a residential mortgage lender or residential mortgage broker, and the license of a qualified individual licensee, shall state the name of the business licensee and the licensee's place or places of business, as…

17:11C-68 Expiration, continuance, reinstatement, surrender of license. 18. a. Each residential mortgage lender, residential mortgage broker, and mortgage loan originator license issued pursuant to this act shall expire in accordance with the following schedule: (1) for any licen…

17:11C-69 Approval for sale, transfer of controlling interest. 19. Any sale or transfer of a controlling interest in a residential mortgage lender or residential mortgage broker applicant's or licensee's business shall be approved by the commissioner prior to the transfer or sale…

17:11C-7 Conditions for issuance of license. 7. The commissioner shall issue a license under this act if the following conditions are met: a. An application for a new license or for a renewal of a license shall be submitted to the commissioner on the forms and in the manner, and …

17:11C-70 Authority of commissioner relative to issuing licenses. 20. a. The commissioner's authority with respect to issuing licenses shall include the following: (1) The commissioner may access, receive and use any information or material required of an applicant or licensee pu…

17:11C-71 Identification of place of business, storing of books, accounts, records; accessibility. 21. a. Every residential mortgage lender, residential mortgage broker, and mortgage loan originator shall identify the place of business where those books, accounts, records and oth…

17:11C-72 Provision of unique identifier required. 22. a. Every residential mortgage lender or residential mortgage broker as qualified individual licensees, and every mortgage loan originator licensee shall provide, in a conspicuous manner, the unique identifier assigned to the …

17:11C-73 Insurance requirements for borrowers. 23. a. A borrower shall not be required to purchase credit life or accident and health insurance or credit involuntary unemployment insurance in connection with any mortgage loan. If the borrower or borrowers consent thereto in writ…

17:11C-74 Permitted fees; definitions. 24. a. Notwithstanding the provisions of any other law, a residential mortgage lender, incidental to the origination, processing and closing of any mortgage loan transaction, shall have the right to charge only the following fees: (1) applic…

17:11C-75 Prohibited practices, violations. 25. The following practices shall be prohibited and a violation of this act with respect to any mortgage loan: a. No person shall use the word "mortgage" or similar word in any advertising, sign, letterhead, business card, or like matte…

17:11C-75.1 Mortgagors to make biweekly, semi-monthly payments, principal payments, allowed. 1. a. A financial institution shall allow mortgagors to: (1) for mortgagors who are in good standing on the mortgage: (a) make biweekly mortgage payments, in which any amount paid in exce…

17:11C-76 Closed-end loan permitted, certain circumstances, interest rates. 26. a. Notwithstanding the provisions of R.S.31:1-1 or any other law to the contrary, a residential mortgage lender may make a closed-end loan as a secondary mortgage loan, and may charge, contract for, a…

17:11C-77 Open-end loan permitted, certain circumstances, interest rates. 27. Notwithstanding the provisions of R.S.31:1-1 or any other law to the contrary, and subject to all applicable provisions of this act, a licensed residential mortgage lender shall have authority to make a…

17:11C-78 Requirements for instrument evidencing a secondary mortgage loan. 28. An instrument evidencing a secondary mortgage loan shall: a. Be in the form of a promissory note for a closed-end loan, and in the form of a loan agreement for an open-end loan, and shall be identifia…

17:11C-79 Prohibited wording for secondary mortgage loan. 29. No writing of any kind executed in connection with a secondary mortgage loan shall contain: a. A power of attorney to confess judgment. b. An assignment of or order for the payment of any salary, wages, commissions or …

17:11C-8 Application, fee. 8. a. (Deleted by amendment, P.L.2009, c.53) b. (Deleted by amendment, P.L.2007, c.81). c. (Deleted by amendment, P.L.2009, c.53) d. An applicant for a new license or for a renewal of a license to be a consumer lender or a sales finance company shall pa…

17:11C-80 Prohibited actions relative to secondary mortgage loan; exceptions. 30. a. A licensee acting as a residential mortgage lender shall not contract for, charge, receive or collect directly or indirectly, any of the following in connection with a secondary mortgage loan: a …

17:11C-81 Regulations relative to collection of interest. 31. a. If a residential mortgage lender charges or collects interest, costs or other charges on a secondary mortgage loan in excess of those permitted by this act, the licensee may collect only the principal amount of the …

17:11C-82 Required actions relative to secondary mortgage loans. 32. A residential mortgage lender shall, in connection with a secondary mortgage loan: a. Give to the borrower, without charge, a copy of every instrument, document or other writing the borrower signs, and written e…

17:11C-83 Additional prohibited practices, violations. 33. In addition to the prohibited practices set forth pursuant to section 25 of this act for any mortgage loan, the following shall be prohibited and a violation of this act with respect to any secondary mortgage loan: a. No …

17:11C-84 Investigation by commissioner. 34. a. The commissioner may investigate or examine any residential mortgage lender, residential mortgage broker, mortgage loan originator, or other person as the commissioner deems necessary to determine compliance with this act and the or…

17:11C-85 Reporting requirements. 35. a. (1) Every residential mortgage lender and residential mortgage broker shall annually file a report with the commissioner, which shall set forth any information as the commissioner shall require concerning the business conducted as a licens…

17:11C-86 Agreements unenforceable, void. 36. Any agreement to waive any provision of this act shall be unenforceable and void. L.2009, c.53, s.36.

17:11C-87 Applicability to mortgage loans. 37. The provisions of this act shall apply to any mortgage loan: a. Advertised, caused to be advertised, solicited, negotiated, offered, or otherwise transacted within this State, in whole or in part, whether by the ultimate residential …

17:11C-88 Noncompliance, effect on validity, enforcement of mortgage loans. 38. The failure of any person to comply with the provisions of this act shall not affect the validity or enforceability of any mortgage loan, and no person acquiring a mortgage loan shall be required to a…

17:11C-89 Rules, regulations. 39. The commissioner may issue and promulgate rules and regulations, in accordance with the "Administrative Procedure Act," P.L.1968, c. 410 (C.52:14B-1 et seq.), necessary to effectuate the provisions of this act. L.2009, c.53, s.39.

17:11C-9 Maintenance of branch offices by licensee. 9. a. A consumer lender or sales finance company may maintain a branch office or offices. The licensee shall obtain a license for each branch office from which the licensee has direct contact with New Jersey consumers regarding …

17:11D-1 Definitions relative to tax preparation services. 1. As used in this act: "Client" means an individual who engages the services of a tax preparer. "Commissioner" means the Commissioner of Banking and Insurance. "Refund anticipation check" means a check, stored value card…

17:11D-2 Actions prohibited to tax preparer. 2. No tax preparer shall: a. Without reasonable cause, fail to promptly, diligently and without unreasonable delay complete a client's tax return; b. Obtain the signature of a client to a tax return or authorizing document containing b…

17:11D-3 Refund anticipation loans, compliance, disclosures required. 3. a. Any tax preparer offering, facilitating, or making refund anticipation loans shall comply with the provisions of the "New Jersey Consumer Finance Licensing Act," sections 1 through 49 of P.L.1996, c.157 (…

17:11D-4 Itemized statement of service charges. 4. A tax preparer shall provide an itemized statement of all service charges and fees to the client, including, but not limited to, charges and fees for each of the following: a. tax return preparation; b. electronic filing of a tax…

17:11D-5 Additional penalties. 5. In addition to any sanctions provided by N.J.S.2C:21-19, R.S.31:1-1 et seq., or any other provision of law, a tax preparer who violates any provision of this act shall be liable to a civil administrative penalty not exceeding $1,000 for each viol…

17:11D-5.1 Violations, tax preparer. 4. It shall be an unlawful practice and violation of P.L.1960, c.39 (C.56:8-1 et seq.) for a tax preparer to violate any provision of P.L.2007, c.258 (C.17:11D-1 et seq.). L.2022, c.90, s.4.

17:11D-6 Inapplicability of act. 6. The provisions of this act shall not apply to: a. a tax preparer providing tax preparation services to less than six clients per calendar year; b. an individual providing tax preparation services for a spouse, parent, grandparent, child or sibl…

17:11D-7 Rules, regulations. 7. The commissioner shall promulgate rules and regulations in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) necessary to carry out the provisions of this act. L.2007, c.258, s.7.

17:12B-1. Construction as revision of prior laws This act shall be construed as a revision of, and shall supersede, all provisions of the "Savings and Loan Act," approved April 4, 1946 (P.L.1946, c. 56), including all amendments thereof and supplements thereto. L.1963, c. 144, s.…

17:12B-10. Per capita assets "Per capita assets" shall mean the total savings and loan assets divided by the population. (a) Per capita assets for the State shall be the total assets of the associations having their principal offices in the State as of the last preceding December…

17:12B-103. Pledge of account to association The pledge to any association of such an account, signed by that person or those persons who are authorized in writing to make withdrawals from the account shall be a valid pledge and transfer to the association of the account, and sha…

17:12B-106. Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiary Any association may accept accounts in the name of one or more administrators, custodians, executors, guardians…

17:12B-109. Necessity for actual notice of death or incompetency of savings member In the absence of actual notice of death or incompetency of a savings member received by an association at the office at which the member's account is maintained, the association may, notwithstandi…

17:12B-11 Mortgage deemed first lien. 11. A mortgage upon real property or a mortgage upon a lease of the fee of real property shall be deemed a first lien as follows: (a) A mortgage upon real property shall be deemed a first lien notwithstanding the existence of (i) a prior mort…

17:12B-110. Transfer of membership A member may transfer, absolutely or conditionally, his membership to any other person, subject to the provisions of this act, by a written assignment accompanied by delivery of the evidence of the account. The evidence of the account shall mean…

17:12B-111. Lost certificates and account books Upon filing with an association by a member of record, or his legal representative, of an affidavit showing that his account book has been lost, stolen or destroyed, and whether, and to whom the same has been pledged or assigned in …

17:12B-112. Termination of membership The membership of a savings member shall terminate when the amount of his account has been paid to him in full or when the transfer of his membership to another person has been recorded on the books of the association, or when his account has…

17:12B-112.1 Savings promotion conducted by savings and loan association. 2. a. A State savings and loan association may conduct a savings promotion provided that the association: (1) conducts the promotion in a manner so as to ensure that each entry has an equal chance of winnin…