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New Jersey Statutes, Title: 31, INTEREST AND USURY
Chapter 1: Contract rate; rate on mortgages on dwellings and other loans; computation of interest or discount; determination of rates
Section: 31:1-8: Liberal construction
This act shall be liberally construed to effect its legislative purpose of suspending for the aforesaid period any existing statutory limitation as to rate of interest or cost of money borrowed or provision of law with respect thereto and applicable to any county, municipality, school district, body corporate and politic, district or public authority, agency, commission or other public institution heretofore or hereafter created by the State, or any one or more counties or municipalities, but nothing herein contained shall be held or deemed in any way to effect or to impair existing contract limitations with bondholders or others as to rate of interest or cost of money borrowed without the consent of such bondholders or others given as provided in any such contract.
L.1969, c. 137, s. 2, eff. July 3, 1969. Amended by L.1970, c. 21, s. 3; L.1970, c. 49, s. 3, eff. May 8, 1970.
This section added to the Rutgers Database: 2012-09-26 13:37:50.
Older versions of 31:1-8 (if available):
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