New Jersey Administrative Code
Title 3 - BANKING
Chapter 17 - CONSUMER LENDERS AND SALES FINANCE COMPANIES
Subchapter 5 - BOOKS AND RECORDS; EXAMINATIONS; ANNUAL REPORTS
Section 3:17-5.6 - Judgment records requirement for consumer lenders and sales finance companies
Universal Citation: NJ Admin Code 3:17-5.6
Current through Register Vol. 56, No. 18, September 16, 2024
(a) When a consumer lender or sales finance company has reduced a note to judgment, the licensee shall maintain a file containing the following information:
1. The date of judgment;
2. The judgment debtor's name and
address;
3. The date suit was
filed;
4. The nature of the
suit;
5. The name and location of
the court;
6. The amount of
judgment, showing the separate items comprised in the judgment as follows:
i. Principal;
ii. Interest;
iii. Attorney's fees;
iv. Court cost (itemized); and
v. Total amount of judgment; and
7. A description of the legal
procedures followed to enforce the judgment.
(b) Consumer lenders and sales finance companies shall maintain records of nonjudicial foreclosures of security, such as repossession pursuant to the terms of the contract.
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