§ 174-11. Designated representative of out-of-state creditor; violation.

An out-of-state creditor shall include the full name and contact information of the in-state representative or agent in the notice required to be provided pursuant to N.J.S.A. 46:10B-51(a)(1). An out-of-state creditor subject to this chapter found by the Municipal Court of the City of North Wildwood, or by any other court of competent jurisdiction, to be in violation of the requirement to appoint an in-state representative or agent pursuant to this chapter shall be subject to a fine of $2,500 for each day of the violation. Any fines imposed on a creditor for the failure to appoint an in-state representative or agent shall commence on the day after the ten-day period set forth in N.J.S.A. 46:10B-51(a)(1) for providing notice to the Municipal Clerk that a summons and complaint in an action to foreclose on a mortgage has been served.