N.J. Admin. Code § 13:21-3.3

Current through Register Vol. 56, No. 21, November 4, 2024
Section 13:21-3.3 - Definitions

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.

"Buyer" includes purchaser, debtor, lessee, bailee, transferee, and any person buying, attempting to buy, or receiving a motor vehicle subject to a security interest, lease, bailment, or transfer agreement, and their legal successors in interest.

"Chief Administrator" means the Chief Administrator of the New Jersey Motor Vehicle Commission.

"Electronic title" means an electronic version of a certificate of ownership or title document issued pursuant to 39:10-1 et seq., and 39:2-3.8 and this subchapter.

"Lien" means a charge or encumbrance on a motor vehicle for the satisfaction of a debt or other duty.

"Motor Vehicle Commission" or "Commission" means the New Jersey Motor Vehicle Commission established by section 4 of P.L. 2003, c. 13 (39:2A-4) .

"Participating lien holder" means a secured party participating in the Electronic Lien and Titling Program through a service provider.

"Person" includes natural persons, firms or co-partnerships, corporations, associations, or other artificial bodies, receivers, trustees, common law or statutory assignees, executors, administrators, sheriffs, constables, marshals, or other persons in representative or official capacity, and members, officers, agents, employees, or other representatives of those enumerated in this definition.

"Secured party" means a lender, seller, or other person in whose favor there is a security interest.

"Security agreement" means an agreement that creates or provides for a security interest in a motor vehicle.

"Security interest" means an interest in a motor vehicle that secures payment or other performance of an obligation.

"Seller" means manufacturer, dealer, lessor, bailor, transferor with or without a security interest, and any other person selling, attempting to sell, or delivering a motor vehicle, and their legal successors in interest.

"Service provider" means an entity approved by the Commission to provide electronic lien and titling services to participating lien holders.

N.J. Admin. Code § 13:21-3.3

Adopted by 46 N.J.R. 1904(a), effective 9/2/2014.