N.J. Admin. Code § 2:72-1.2

Current through Register Vol. 56, No. 21, November 4, 2024

Section 2:72-1.2 - License application requirements

(a) All persons required to be licensed pursuant to 4:11-18 shall file an application on or before November 1 of each year that includes the following:

1. A written application upon a form provided by the Department that conforms to the requirements of 4:11-19, which shall include the names and addresses of all agents conducting business on behalf of the applicant in accordance with 4:11-22;

2. Proof of surety in accordance with the following:

i. An acceptable form of surety that conforms to the requirements of (b) below; or

ii. The date on which the commission merchant, broker or dealer will begin purchasing, receiving, soliciting or negotiating the sale of any agricultural commodity, provided the applicant later submits an acceptable form of surety at least 15 days before engaging in such business. No license shall be issued until an acceptable form of surety that complies with (b) below is actually submitted;

3. A nonrefundable application fee of $ 30.00 made payable to the New Jersey Department of Agriculture; and

4. Any other information or documentation the Secretary of Agriculture deems necessary in order to determine the character, financial responsibility or good faith of an applicant.

(b) The acceptable form of surety required in 4:11-20 shall be equal to the maximum calendar month purchases multiplied by the number of days before payment is made on those purchases divided by 30, which in no event shall be less than $ 5,000 nor greater than $ 150,000.

N.J. Admin. Code § 2:72-1.2

Recodified from N.J.A.C. 2:72-1.1 and amended by R.2006 d.440, effective 12/18/2006.
See: 38 N.J.R. 3100(a), 38 N.J.R. 5352(a).
Added (a); inserted designation (b); and rewrote (b).