N.J. Admin. Code § 3:5-1.1

Current through Register Vol. 56, No. 23, December 2, 2024

Section 3:5-1.1 - Purpose and scope

(a) The purpose of this subchapter is to set forth the funding mechanism for the support of the Division of Banking in the Department of Banking and Insurance as required by 17:1C-33 et seq., and to distribute the financial burden proportionately among depository institutions and other financial entities that the Division of Banking, in the Department of Banking and Insurance, charters, licenses and registers consistent with the Division's regulatory activities.

(b) These rules apply to banks, savings banks, savings and loan associations, credit unions, business licensees under the New Jersey Residential Mortgage Lending Act, 17:11C-51 et seq., licensees under the New Jersey Consumer Finance Licensing Act, 17:11C-1 to 43, check cashers, money transmitters, consumer lenders, pawnbrokers, sales finance companies, insurance premium finance companies, home repair contractors, home repair finance agencies, motor vehicle installment sellers, debt adjusters, high cost home loan counselors, and foreclosure consultants.

Amended by R.2011 d.294, effective 12/19/2011.
See: 43 N.J.R. 1629(a), 43 N.J.R. 3331(a).
Rewrote (b).
Amended by R.2014 d.015, effective 1/6/2014.
See: 45 N.J.R. 969(a), 46 N.J.R. 65(a).
In (b), deleted "persons licensed or registered under the New Jersey Licensed Lenders Act, P.L. 1996, c. 157, N.J.S.A. 17:11C-1 et seq.," preceding "business", substituted a comma for "and" following "adjusters", and inserted ", and foreclosure consultants".