New Jersey Administrative Code
Title 3 - BANKING
Chapter 16 - PAWNBROKING LAW REGULATIONS
Subchapter 2 - CONDUCT OF BUSINESS; RECORDKEEPING; EXAMINATIONS
Section 3:16-2.4 - Public auction or private sale; notice

Universal Citation: NJ Admin Code 3:16-2.4

Current through Register Vol. 56, No. 18, September 16, 2024

(a) A licensee shall obtain the name and address of each person who makes a purchase as a result of a public auction or private sale. The purchasers' names and addresses shall be retained for examination by the Department and the police.

(b) A licensee shall prepare and maintain a list containing a description of each item which the licensee acquires as a result of a public auction or private sale of unredeemed pledges.

(c) A licensee shall allow public inspection of all unredeemed pledges at the site of the public auction for not less than one hour prior to the commencement of the auction.

(d) A licensee shall mail a notice of public auction or private sale to each pledgor of record of items to be sold at least 20 days prior to the auction or sale.

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.