N.J. Admin. Code § 3:17-2.1

Current through Register Vol. 57, No. 1, January 6, 2025

Section 3:17-2.1 - Requirement to be licensed

(a) Unless exempt under N.J.S.A. 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, N.J.S.A. 17:11C-1 et seq., or the Retail Installment Sales Act of 1960, N.J.S.A. 17:16C-1 et seq., unless the license issued by the Department specifies that the licensee may engage in that licensed activity.