New Jersey Administrative Code
Title 3 - BANKING
Chapter 24 - CHECK CASHING
Subchapter 1 - GENERAL PROVISIONS
Section 3:24-1.5 - Application process; requirements

Universal Citation: NJ Admin Code 3:24-1.5

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

(a) No applicant for a license shall commence operations until a license has been issued.

(b) In addition to the information required to be furnished to the Department by 17:15A-33 through 39, the applicant shall supply the following as part of its application for each director, substantial stockholder, officer, owner, partner, member, manager and employee of the business to be licensed:

1. A personal certification on a form supplied by the Commissioner;

2. A two-inch by two-inch passport style photograph of the persons listed in (b) above;

3. Fingerprints in the manner currently required by the New Jersey State Police or their authorized representative;

4. Application fee(s) as required by 3:24-1.4; and

5. Any other information or supporting documentation relating to the operation of the proposed check cashing business which the Commissioner may require.

(c) Corporate applicants for a check cashing license shall submit a copy of the Certificate of Incorporation showing the filed or recording stamp of the New Jersey Department of Treasury, Division of Revenue, and shall identify the registered agent for service of process. Foreign corporations shall submit a New Jersey Certificate of Authority in addition to their corporate certificate. A limited liability company shall submit a filed copy of its operating agreement.

(d) Individual or partnership applicants using a trade name shall submit a copy of the trade name as filed with the county clerk showing date of recording.

(e) Corporations using alternate names shall file a copy of registration of such name, as recorded, as part of their applications, in addition to the documents listed in (c) above.

(f) A new employee, hired after a license has issued, may begin work pending receipt by the Department of fingerprint results provided all other information is complete and satisfactory.

(g) Applicants seeking approval of a branch, mobile office, change of address or for change of control must have their license in good standing to receive said additional approval.

(h) Applicants seeking approval of change of address shall submit:

1. A physical description of the premises;

2. Two interior and two exterior photos of the premises;

3. A copy of the executed lease;

4. Necessary permits, variances or other documentation sufficient to demonstrate that the facility is in compliance with all applicable State, county and municipal laws, ordinances and traffic regulations; and

5. Proof of compliance with 17:15A-41(e) regarding the requirement that no office or mobile office shall be located within 2,500 feet of an existing office or mobile office.

(i) Applicants who file applications lacking any necessary information shall be notified by letter of the missing information and shall have one year from the date of the letter to submit the information or the application will be deemed withdrawn. If an application is so withdrawn, all application fees shall be retained by the Department and shall not be applied to any re-application.

(j) Changes in bank accounts and banking institution information supplied to the Department pursuant to 17:15A-44(f) and (g), information submitted as part of an application as set forth in (b) above or the New Jersey motor vehicle registration or other identification of a mobile office and the exact locations where any mobile office unit will be operated, shall be reported in writing to the Department within five business days of the change in the information or commencing operation at a new location.

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.
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