New Jersey Administrative Code
Title 3 - BANKING
Chapter 17 - CONSUMER LENDERS AND SALES FINANCE COMPANIES
Subchapter 2 - LICENSING
Section 3:17-2.1 - Requirement to be licensed
Universal Citation: NJ Admin Code 3:17-2.1
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Unless exempt under 17:11C-6, no person shall engage in business as a consumer lender or sales finance company without first obtaining a license pursuant to the Act.
(b) The Department shall issue a license which shall specify whether the licensee may act as a consumer lender or a sales finance company. A licensee may not engage in a licensed activity under the New Jersey Consumer Finance Licensing Act, 17:11C-1 et seq., or the Retail Installment Sales Act of 1960, 17:16C-1 et seq., unless the license issued by the Department specifies that the licensee may engage in that licensed activity.
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