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 16c:

      Section: 17:16c-30: Insurance at retail buyer's expense; dual protection

           Where title to or a lien upon goods sold by the retail seller is retained or taken by the retail seller the retail buyer may be required to insure the goods at the retail buyer's expense for the protection of the retail seller or subsequent holder which insurance may be purchased by the holder. Such insurance shall be written for the dual protection of the retail buyer and the retail seller or subsequent holder to the extent of his interest in the goods and shall be limited to insurance against substantial risk of damage, destruction, or theft of such goods and shall be upon terms and conditions, which are reasonable and appropriate, considering the type and conditions of such goods. When the retail buyer fails or is unable to acquire insurance or the retail seller or subsequent holder is unable to purchase insurance covering the dual protection of the retail buyer and retail seller or subsequent holder, the retail seller or holder may purchase a single interest insurance policy on the goods and may collect the premium therefor from the retail buyer.

L.1960, c. 40, p. 153, s. 30. Amended by L.1971, c. 409, s. 5.



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






Older versions of 17:16c-30 (if available):



Court decisions that cite this statute: CLICK HERE.