New Jersey Revised Statutes § 17:11c-16 - Net Worth Requirements For Consumer Lenders

17:11C-16. Net worth requirements for consumer lenders

16. a. Every applicant for a license as a consumer lender shall prove in a form satisfactory to the commissioner, that the applicant has a net worth of at least $100,000, and has available for the purpose of making consumer loans liquid assets of at least $100,000.

b. Every consumer lender shall have at all times a net worth of at least $100,000 and shall maintain at all times assets of at least $100,000 in liquid form available for or actually used in the making of consumer loans.


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Last modified: October 11, 2016