New Jersey Administrative Code
Title 3 - BANKING
Chapter 16 - PAWNBROKING LAW REGULATIONS
Subchapter 1 - GENERAL PROVISIONS
Section 3:16-1.1 - Definitions

Universal Citation: NJ Admin Code 3:16-1.1
Current through Register Vol. 56, No. 18, September 16, 2024

The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise.

"Act" means the Pawnbroker Act, 45:22-1 et seq.

"Commercially reasonable manner" means that display and sale of goods shall be made in keeping with prevailing trade practices among reputable and responsible business and commercial enterprises engaged in the same or similar businesses.

"Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance.

"Department" means the New Jersey Department of Banking and Insurance.

"Licensee" means a licensee under the Act.

"Substantial stockholder" means any person who beneficially owns or controls more than 10 percent of the outstanding voting shares of an applicant or a licensee.

"Unredeemed pledge" means an item of personal property on which the licensee has loaned a sum of money to a pledgor for a specified time period, and which, after proper notice, the pledgor has failed to redeem.

Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.