New Jersey § 17:11c-63
Full text of New Jersey New Jersey Statutes § 17:11c-63, with citation guidance and answers to common questions.
§ 17:11c-63.
A business licensee, prior to doing business as a residential mortgage lender or residential
mortgage broker, shall obtain a blanket bond in an amount and form prescribed by regulations
of the commissioner, but not less than $25,000. The bond shall be obtained from a surety company authorized by law to do business
in this State. The business licensee shall procure the blanket bond to cover its qualified individual
licensees, and all mortgage loan originators, other employees, and agents in an amount
as prescribed by regulation of the commissioner. The bond shall run to the State for the benefit of any person injured by the wrongful
act, default, fraud or misrepresentation of the business licensee, or its qualifying
individual licensees, mortgage loan originators, other employees, or agents. No bond shall comply with the requirements of this section unless the bond contains
a provision that it shall not be canceled for any cause unless notice of intention
to cancel is filed in the department at least 30 days before the day upon which cancellation
shall take effect.
Frequently Asked Questions About New Jersey § 17:11c-63
What does New Jersey Statutes § 17:11c-63 cover?
Section 17:11c-63 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:11c-63?
A common citation format is "New Jersey Statutes § 17:11c-63" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:11c-63 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.