{"data":{"id":"us-nj/n.j.-stat.-17-16c-2","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:16C-2","heading":"Necessity of license","body":"No person shall hereafter engage in or continue to engage in the business of  a sales finance company or in the business of a motor vehicle installment seller in this State without first obtaining a license from the commissioner as  provided for in this act;  provided, however, that no sales finance company  shall be required to obtain a license to engage in the business of a motor  vehicle installment seller for the purpose of disposing of any goods to which  it has obtained title as a result of legal or contract right under any retail  installment contract;  and provided, further, that any banking institution  authorized to do business in this State shall be authorized to transact  business as a sales finance company, subject to all of the provisions of this  act, except that it shall not be required to obtain a license or pay a license  fee hereunder.\nL.1960, c. 40, p. 145, s. 2.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"772dafc4c1460ef23847f854a04447db9de49b31ed505ac022cb7ac353b0e3ab","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-16c-1","next":"us-nj/n.j.-stat.-17-16c-3"},"notice":"GroundRules: Original legal text. Not legal advice."}