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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

    Chapter 16c:

      Section: 17:16c-40: Loan of money or advance of credit to retail buyer; rate of interest

           No retail seller, sales finance company or holder shall make any loan of money or advance of credit to a retail buyer on or in connection with any retail installment contract or retail charge account and charge, contract for or receive thereon a greater rate of interest than he would otherwise be permitted by law to charge except in accordance with the provisions of this act; provided, however, that nothing contained in this section shall prohibit a banking institution from making any loan which it otherwise is permitted by law to make.

L.1960, c. 40, p. 156, s. 40. Amended by L.1971, c. 409, s. 11.



This section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 17:16c-40 (if available):



Court decisions that cite this statute: CLICK HERE.