56:12-95.3 Service contract, requirement for registering with division, renewal.
275 words·~1 min read·
/nj/title-56/chapter-12/56-12-95-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
6. a. A person shall not provide or administer a service contract in this State, unless the person has registered with the division.
b. The registration application and renewal shall be on a form provided by the division and shall:
(1)disclose the address, ownership, and nature of business of the regulated entity;
(2)be renewed annually on July 1 or other date established by the director; and
(3)be accompanied by a fee of $300 per registration and annual renewal.
c. A registration application or registration renewal shall not be considered filed until all required information and fees are received by the division.
d. Any regulated entity that fails to register prior to the sale of a service contract shall pay a late filing fee of $100 for each 30-day period, or portion thereof, that the registration is late. A regulated entity that fails to timely renew its registration shall pay a late fee of $50 for each 30-day period, or portion thereof, that the annual renewal filing fee is late. The late fees authorized by this subsection shall be in addition to all other penalties authorized by law, including civil penalties for the sale of any service contract while unregistered.
e. The director may refuse to issue or renew, and may revoke or suspend, any registration for failure to comply with, or violation of, the provisions of P.L.2022, c.91 (C.56:12-95.1 et al.) or any regulation promulgated pursuant thereto, or the provisions of P.L.1960, c.39 (C.56:8-1 et seq.). A refusal, revocation, or suspension shall not be made except upon reasonable notice to, and opportunity to be heard, by the applicant registrant.
L.2022, c.91, s.6.