N.J. Admin. Code § 3:5-2.1

Current through Register Vol. 56, No. 23, December 2, 2024
Section 3:5-2.1 - Definitions

The following words and terms, as used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise.

"Act" means 17:1C-33 et seq.

"Application fees for licensees" means the non-refundable charges imposed on other financial entities for processing of applications submitted by them to the Department.

"Assessment" means the assessment imposed for the special functions of the Division relative to the financial regulation, supervision and monitoring of depository institutions and other financial entities that it licenses during the previous fiscal year.

"Call report" means the report of general financial condition submitted by all insured depository institutions to the Federal Deposit Insurance Corporation or the National Credit Union Administration, as the case may be, on a quarterly basis and shall include reports filed with the Department by limited purpose companies on a semiannual basis pursuant to N.J.S.A. 17:9A-256.

"Charter fees" means the nonrefundable charges imposed for the initial review by the Division of those seeking New Jersey approval for the initial establishment of a bank, savings bank, savings and loan association or credit union or for the designation as a low income credit union.

"Commissioner" means the Commissioner of Banking and Insurance.

"Consumer Finance" means the Office of Consumer Finance in the Division of Banking in the Department of Banking and Insurance.

"Department" means the Department of Banking and Insurance.

"Depositories" means the Office of Depositories in the Division of Banking in the Department of Banking and Insurance.

"Depository institution" means any entity holding an approval from the Department for the initial establishment of a bank, savings bank, savings and loan association or credit union, irrespective of whether the entity accepts deposits.

"Division" means the Division of Banking in the Department of Banking and Insurance.

"Licensee" means any regulated entity other than a depository institution or credit union.

"Other financial entity" means a person who is licensed pursuant to: the New Jersey Residential Mortgage Lending Act, 17:11C-51 et seq.; the New Jersey Consumer Finance Licensing Act, 17:11C-1 to 43; the Check Cashers Regulatory Act of 1993, P.L. 1993, c. 383 (17:15A-30 et seq.); the New Jersey Money Transmitters Act, P.L. 1998, c. 14 (17:15C-1 et seq.); the Insurance Premium Finance Company Act, P.L. 1968, c. 221 (17:16D-1 et seq.); the Retail Installment Sales Act of 1960, P.L. 1960, c. 40 (17:16C-1 et seq.); the Door-to-Door Retail Installment Sales Act of 1968, P.L. 1968, c. 223 (17:16C-61.1 et seq.); the Home Repair Financing Act, P.L. 1960, c. 41 (17:16C-93 et seq.); the Door-to-Door Home Repair Sales Act of 1968, P.L. 1968, c. 224 (17:16C-95 et seq.); the Debt Adjusters Act, P.L. 1979, c. 16 (17:16G-1 et seq.); the Pawnbroking Law, P.L. 1931, c. 294 (45:22-1 et seq.); the New Jersey Home Ownership Security Act, P.L. 2003, c. 64, §11 (46:10B-32 ); or the Foreclosure Rescue Fraud Prevention Act, P.L. 2011, c. 146 (46:10B-53 et seq.).

"Regulated entity" means a depository institution, other financial entity or person chartered, licensed or registered by the Division of Banking or that should be chartered, licensed or registered.

N.J. Admin. Code § 3:5-2.1

Amended by 51 N.J.R. 825(a), effective 6/3/2019