New Jersey Administrative Code
Title 3 - BANKING
Chapter 15 - RESIDENTIAL MORTGAGE LENDERS; CORRESPONDENT MORTGAGE LENDERS; MORTGAGE BROKERS; QUALIFIED INDIVIDUAL LICENSEES; MORTGAGE LOAN ORIGINATORS
Subchapter 1 - GENERAL PROVISIONS
Section 3:15-1.5 - License names permitted
Universal Citation: NJ Admin Code 3:15-1.5
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The number of alternate or trade names that may be used by a licensee in this State shall not exceed three, unless:
1. The licensee provides
evidence to the Commissioner that prohibiting it from using a fourth or
subsequent alternate or trade name would produce a substantial and unreasonable
hardship on the licensee beyond the mere ability to market under the new name,
and the licensee can satisfy the Department that procedures have been
established to assure that consumers will not be misled about the true identity
of the licensee. The Commissioner shall not grant an exception to the
limitation of three alternate or trade names under this paragraph except in
extraordinary circumstances; or
2.
The licensee has, prior to November 4, 2002, been approved to use four or more
alternate or trade names, in which case, the licensee may continue to use those
names, but shall not be approved to use an additional alternate or trade name
until the total number of alternate or trade names being used by that licensee
is two or fewer, unless a larger number is permitted pursuant to (a)1
above.
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