New Jersey Statutes 39:10-11.5. Participation
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Terms Used In New Jersey Statutes 39:10-11.5
- Chief Administrator: means the Chief Administrator of the New Jersey Motor Vehicle Commission. See New Jersey Statutes 39:10-2
- Electronic: means relating to technology having electrical, digital, magnetic, optical, electromagnetic, or similar capabilities. See New Jersey Statutes 39:10-2
- Lien: A claim against real or personal property in satisfaction of a debt.
4. Within one year of the date upon which an electronic lien and titling system established pursuant to this act becomes operational, all lienholders, except individuals and those lienholders who are not normally engaged in the business of financing motor vehicles and are administratively exempted by the chief administrator, shall participate in the electronic lien and titling system.
L.2017, c.308, s.4.