N.J. Admin. Code § 3:16-2.5
Current through Register Vol. 56, No. 23, December 2, 2024
On loans secured by the pledge of articles, a licensee may levy a service charge equal to eight percent of the amount of the loan, but such service charge shall not exceed $ 4.00. The service charge shall not be levied on the renewal of a pledge more than once during any 12-month period following the date of the initial pledge. A licensee shall levy a service charge only with the knowledge and consent of the pledgor.
N.J. Admin. Code § 3:16-2.5
See: 30 N.J.R. 261(a), 30 N.J.R. 1402(a).
Increased the service charge limit from $ 3.00 to $ 4.00 in the first sentence.