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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 16v:
Section: 17:16v-8: Fiduciary relationship not imposed.
8. Neither this act nor the purchase of collateral protection insurance nor receipt of commission or other consideration by the creditor shall impose a fiduciary relationship between the creditor and debtor. Placement of collateral protection insurance is for the purpose of protection of the interest of the creditor when the debtor fails to insure collateral as required by the credit transaction agreement.
L.1999,c.44,s.8.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:16v-8 (if available):
Court decisions that cite this statute:
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