§ 17:16C-4 — Issuance or refusal of license

Within 60 days after the filing of the application and the payment of the fees hereinafter set forth the commissioner shall either: (a) Issue and deliver to the applicant a license to engage in the business of a sales finance company or a motor vehicle installment seller in accordance with the provisions of this act at the location specified in the said application; or (b) Refuse to issue the license for any reason for which he may suspend, revoke or refuse to renew any license under section 10 of this act. L.1960, c. 40, p. 146, s. 4.