New Jersey Statutes
§ 17:16V-8 — Fiduciary relationship not imposed.
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
8.Neither this act nor the purchase of collateral protection insurance nor receipt of commission or other consideration by the creditor shall impose a fiduciary relationship between the creditor and debtor. Placement of collateral protection insurance is for the purpose of protection of the interest of the creditor when the debtor fails to insure collateral as required by the credit transaction agreement. L.1999,c.44,s.8.
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New Jersey § 17:16V-8 (Fiduciary relationship not imposed.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.