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

    Chapter 10b:

      Section: 17:10b-2: Prohibitions relative to loan brokers

           2. No loan broker shall:



a. Assess, collect or hold an advance fee, directly or indirectly, from or on behalf of a borrower to provide services as a loan broker;

b. Make or use any false or misleading representations or omit any material fact in the offer or sale of the services of a loan broker or lender, whether real or purported;

c. Engage, directly or indirectly, in any act that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a loan broker or lender, whether real or purported, notwithstanding the absence of reliance by the borrower; or

d. Make any false or deceptive representation to the department or conceal a material fact from the department.

L.1992,c.66,s.2.



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






Older versions of 17:10b-2 (if available):



Court decisions that cite this statute: CLICK HERE.