46:3B-5 - Certificate of registration; application; fee; issuance; duration; conditions - New Jersey Statutes

46:3B-5.  Certificate of registration;  application;  fee;  issuance; duration;  conditions
    No builder shall engage in the business of constructing new homes unless he  is registered with the department.  The department shall provide application  forms for such registration and shall prescribe the information to be included  therein.  Each application shall be accompanied by a reasonable fee, prescribed  by the commissioner, and proof, satisfactory to the commissioner, of  participation in the new home warranty security fund or an approved alternate  new home warranty security program.  Upon receipt of the above, the department  shall issue a certificate of registration.

    Each certificate of registration shall be valid for a period of 2 years from  the date of issue and may be renewed for additional 2-year periods.

    As a condition for the registration, a builder shall be required to participate in the new home warranty security fund or an approved alternate new  home warranty security program.

    No corporation, partnership or other business organization shall be entitled  to registration hereunder, nor shall they engage in the construction of new  homes unless a stockholder, director, officer, partner, or employee thereof, as  the case may be, shall be a registered builder.

     L.1977, c. 467, s. 5.