N.J. Stat. tit. 45, ch. 23

in effect

N.J. Stat. § 45:23-1 "Trading stamp" defined

The words "trading stamp" as used in this chapter mean any stamp, cash discount stamp, check, ticket, coupon or similar device issued in connection with the retail sale of merchandise which will entitle the holder thereof, on presentation thereof, either singly or in definite number, to receive, either directly from the person selling or issuing the same or indirectly through any other person, money, goods, wares, services or merchandise. The words "trading stamp" as used in this chapter shall not mean any redeemable device used by the manufacturer or packer of an article in advertising or selling it, or issued and redeemed by a newspaper, magazine or other publication. Amended by L.1964, c. 274, s. 1.

N.J. Stat. § 45:23-1.1 "Trading stamp company" defined

For the purposes of this chapter "trading stamp company" shall mean any person engaged in distributing trading stamps for retail issuance by others, or in redeeming trading stamps for retailers, in any manner. L.1964, c. 274, s. 5.

N.J. Stat. § 45:23-2 Statement of cash value on face of stamp

No trading stamp company shall advertise the issuance of or sell or issue any trading stamp unless such stamp has legibly printed or written upon its face the cash value thereof in cents or any fraction thereof as determined by the trading stamp company. Amended by L.1964, c. 274, s. 2.

N.J. Stat. § 45:23-3 Redemption of stamps

A trading stamp company shall, at the option of a rightful holder of its stamps, redeem the same in cash at the value printed on the face thereof, when duly presented to the company for redemption in a number having an aggregate cash value of not less than $1.00. Amended by L.1964, c. 274, s. 3.

N.J. Stat. § 45:23-4 Application of chapter limited

This chapter shall not apply to tickets, coupons or other vouchers placed by a manufacturer in or upon packages or goods manufactured by him, nor to those so placed by a merchant, if such tickets, coupons or other vouchers are to be redeemed by such merchant, nor to any redeemable device issued and redeemed by a nonprofit corporation for the benefit of its members only, nor to any redeemable device issued and redeemed by a newspaper, magazine or other publication. Amended by L.1964, c. 274, s. 4.

N.J. Stat. § 45:23-5 Filing of registration statement

No trading stamp company shall distribute trading stamps in this State or shall redeem trading stamps hereafter issued therein until it has on or before January 1, 1966, and annually thereafter on or before January 1 of each year filed with the Secretary of State a statement of registration accompanied by representative samples of its stamps, stamp collection books, stamp redemption catalogues and stamp distribution and redemption agreement forms, currently used in this State. No person shall act as agent or representative in this State of a trading stamp company which has not complied with the requirements of this chapter. L.1964, c. 274, s. 6.

N.J. Stat. § 45:23-6 Contents of registration statement

Each statement of registration hereinbefore required shall contain the following information: a. The name and principal address of the company; b. The State of its incorporation or origin; c. The names and addresses of its principal officers, partners or proprietors; d. The address of its principal office in this State; e. The name and address of its principal officer, employee or agent therein; f. The addresses of the places where its stamps are redeemable therein; g. A short form of its balance sheet as of the end of its last fiscal year prior to such filing, certified by an independent public accountant; and h. A statement of its gross income from its business in this State as a trading stamp company during such last fiscal year, certified by an independent public accountant, unless the principal sum of the bond hereinafter required is the maximum amount required under this chapter. L.1964, c. 274, s. 7.

N.J. Stat. § 45:23-7 Annual registration fee

The trading stamp company shall pay an annual registration fee of $100.00 to the Secretary of State at the time of filing each registration statement. L.1964, c. 274, s. 8.

N.J. Stat. § 45:23-8 Bond

At the time of filing each registration statement, the trading stamp company shall also file with the Secretary of State a bond payable to the people of the State of New Jersey and duly executed by the company and a corporate surety qualified to do business in this State. Such bond shall be conditioned upon the performance by the trading stamp company of its obligation to redeem trading stamps issued by retailers in this State when they are duly presented for redemption by the rightful holders. The principal sum of the bond required by this chapter shall be as follows: if the company has not previously done business as a trading stamp company in this State, or if the company's gross income from such business during its last fiscal year was not in excess of $100,000.00 the principal sum shall be $10,000.00; for each additional $100,000.00, or fraction thereof, of gross income from such business in this State during its last fiscal year, an additional $10,000.00; but such bond shall not exceed $150,000.00. On the effective date of each new bond, any and all liability on all bonds previously filed under this chapter shall terminate, and all rightful holders of trading stamps who prosecute their claims under said section shall prosecute such claims solely against the new bond and only by filing proofs of claim with the Secretary of State in the manner provided in this chapter. L.1964, c. 274, s. 9.

N.J. Stat. § 45:23-9 Claims against bonds

If the trading stamp company defaults in the redemption of its stamps issued by retailers in this State when they are duly presented for redemption by the rightful holders, all rightful holders of trading stamps of such company, including retailers in possession of such stamps for issuance to customers, shall be entitled to make claim against such bond. Any such holder may, within 3 months after such default, file a complaint with the Secretary of State, who shall forthwith make an administrative determination whether there has been a default. If said secretary determines that there has been a default, he shall give notice of such determination to the company and, if such default is not corrected within 10 days, he shall publish notice of such default in 3 consecutive publications of one or more newspapers having general circulation throughout this State and therein require that proof of all claims for redemption of the trading stamps of such company be filed with him, together with the trading stamps upon which the claim is based, within 3 months after the date of the first such publication. The Secretary of State shall determine the validity of all claims so filed promptly after the expiration of such period. Thereupon the secretary shall be paid by the surety such amount, not exceeding the principal sum of the bond, as shall be necessary to satisfy all valid claims so filed. The secretary shall promptly thereafter make an equitable distribution of the proceeds of the bond to such claimants and shall destroy the trading stamps so surrendered. The costs and other charges incurred by the Secretary of State in performing the duties set forth in this section shall constitute a proper charge against the trading stamp company which has defaulted, or, in the event of the trading stamp company's failure to pay, against the bond filed by that company, and shall constitute a prior claim against such company or such bond, except that in no event shall the surety be liable for such charge and all other valid claims as an aggregate in excess of the principal sum of the bond. L.1964, c. 274, s. 10.

N.J. Stat. § 45:23-10 Notice of cessation or suspension of redemption of stamps

No trading stamp company shall cease or suspend the redemption of trading stamps in this State without filing with the Secretary of State at least 90 days' prior written notice of its intention to do so and concurrently mailing a copy of such notice to each retailer within this State which has at any time theretofore within 1 year issued trading stamps which the trading stamp company is obligated to redeem. L.1964, c. 274, s. 11.

N.J. Stat. § 45:23-11 Issuance or redemption of stamps without consent of issuing company prohibited

No person shall wilfully issue or redeem or exchange for commercial purposes any trading stamp without the consent of the trading stamp company which issued such stamps. L.1964, c. 274, s. 12.

N.J. Stat. § 45:23-12 Penalty for violation of chapter; jurisdiction

Any person or trading stamp company violating any provision of this chapter shall be guilty of a misdemeanor. The Superior Court shall have jurisdiction on the complaint of any interested person to restrain and enjoin the violation of any of said provisions. Administrative determinations of the Secretary of State shall be subject to review by appeal to the Appellate Division of the Superior Court. L.1964, c. 274, s. 13.

N.J. Stat. § 45:23-13 Municipal ordinances

On and after the effective date of this act no ordinance shall be adopted or amended by any municipality, in respect to the regulation of trading stamp companies and the advertising, distribution and redemption of trading stamps, and all such ordinances and rules, regulations and orders issued pursuant to any such ordinance existing on such date shall be superseded and of no further force and effect. L.1964, c. 274, s. 14.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026