New Jersey Statutes
§ 17:16V-4 — Collateral protection insurance; effective date, face amount, term.
New Jersey § 17:16V-4
JurisdictionNew Jersey
Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
This text of New Jersey § 17:16V-4 (Collateral protection insurance; effective date, face amount, term.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.J. Stat. Ann. § 17:16V-4 (2026).
Text
4.
a.The effective date of the collateral protection insurance policy purchased by the creditor shall not be sooner than the earlier of the date the debtor's insurance lapsed or the date that the debtor failed to provide evidence of insurance on the collateral.
b.The face amount of the collateral protection insurance policy shall not exceed the outstanding balance of the obligation as of the effective date of the coverage purchased by the creditor even though the coverage may exceed the actual cash value or cost of repair.
c.A collateral protection insurance policy term may, but need not, extend to the full life of the credit transaction. L.1999,c.44,s.4.
Free access — add to your briefcase to read the full text and ask questions with AI
Nearby Sections
12
§ 17:16V-1
Short title.§ 17:16V-10
Notices to primary debtor.§ 17:16V-11
Applicability when debtor resides in State.§ 17:16V-12
Transactions to which act applies.§ 17:16V-5
Termination, cancellation conditions.§ 17:16V-6
Obtaining insurance.§ 17:16V-7
Cause of action not created to debtor or third party; remedy; notification; exempt transactions.§ 17:16V-8
Fiduciary relationship not imposed.§ 17:16V-9
Remedies, rights, options unimpaired.Cite This Page — Counsel Stack
Bluebook (online)
New Jersey § 17:16V-4, Counsel Stack Legal Research, https://law.counselstack.com/statute/nj/17/17%3A16V-4.