Skip to main content
THIS SITE
PREVIOUS SECTION Go back to sections Go back to the chapter Go back to the N.J. Statutes homepage NEXT SECTION


New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

    Chapter 10b:

      Section: 17:10b-1: Definitions

           1. As used in this act:



"Advance fee" means any consideration which is assessed or collected by a loan broker, prior to the closing of a loan or issuing a credit card or approving a line of credit.

"Borrower" means a person obtaining or desiring to obtain a loan of money, credit card or line of credit for personal, family or household use.

"Commissioner" means the Commissioner of Banking or his designee.



"Department" means the Department of Banking.



"Loan broker" means any person who:



(1) For or in expectation of consideration, arranges or offers to arrange or offers to fund for a borrower a loan of money, credit card, or line of credit;

(2) For or in expectation of consideration, assists or advises or offers to assist or advise a borrower in obtaining or attempting to obtain a loan of money, credit card or line of credit; or

(3) Holds himself out as a loan broker.



L.1992,c.66,s.1.



This section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 17:10b-1 (if available):



Court decisions that cite this statute: CLICK HERE.