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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 16c:
Section: 17:16c-39.1: Real property mortgage as additional security; prohibition
No retail installment contract, retail charge account or separate instrument executed in connection therewith shall contain any provision whereby the retail seller, sales finance company or holder takes a real property mortgage as additional security in connection with a retail sale. Any such provision shall be void and unenforceable.
L.1981, c. 324, s. 2, eff. Dec. 9, 1981.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:16c-39.1 (if available):
Court decisions that cite this statute:
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