New Jersey Administrative Code
Title 3 - BANKING
Chapter 17 - CONSUMER LENDERS AND SALES FINANCE COMPANIES
Subchapter 7 - ADVERTISING
Section 3:17-7.1 - Advertising and insurance costs
Universal Citation: NJ Admin Code 3:17-7.1
Current through Register Vol. 56, No. 6, March 18, 2024
If a consumer lender requires a borrower to insure the collateral assigned as security for a loan, the licensee shall not advertise that there are "no other costs," or use words of similar meaning, unless the terms represented in the advertisement include the cost of the insurance or unless the advertisement states that an additional charge for insurance is required.
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