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1 chapters · 10 sections in this title.
N.J.S.A. 31:1-1 Contract rate; rate on mortgages on dwellings and other loans; computation of interest or discount; determination of rates
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31:1-1. Contract rate; rate on mortgages on dwellings and other loans; computation of interest or discount; determination of rates (a) Except as herein and otherwise provided by law, no person shall, upon contract, take, directly or indirectly for loan of any money, wares, mercha…
N.J.S.A. 31:1-1.1 Loans; rate of interest; regulations; exceptions
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31:1-1.1. Loans; rate of interest; regulations; exceptions Notwithstanding any provisions of R.S. 31:1-1 to the contrary, the commissioner may by regulation establish a rate of interest which may be charged by any person on loans made by them equal to the rate allowed by Federal …
N.J.S.A. 31:1-2 Persons offending may be examined as witnesses
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31:1-2. Persons offending may be examined as witnesses Any person violating section 31:1-1 of this Title may be compelled to answer as a witness in any action he may bring as to his agreement to receive, or the receipt by him, of any money or other personal property in violation …
N.J.S.A. 31:1-3 Forfeiture of all interest; deduction from recovery
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31:1-3. Forfeiture of all interest; deduction from recovery In all actions to enforce any note, bill, bond, mortgage, contract, covenant, conveyance, or assurance, for the payment or delivery of any money, wares, merchandise, goods, or chattels lent, and on which a higher rate of…
N.J.S.A. 31:1-4 Borrower may compel discovery, and acceptance of principal alone
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31:1-4. Borrower may compel discovery, and acceptance of principal alone Any borrower of money or other personal property may by action in the Superior Court against the lender, or in any discovery proceeding, compel him to discover, upon oath, the money or other personal propert…
N.J.S.A. 31:1-5 Canal and railroad securities sold under par
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31:1-5. Canal and railroad securities sold under par No bond, mortgage or other security for the payment of money, valid on its face, heretofore or hereafter made or issued by any railroad or canal corporation created by or under the laws of this state, shall be held, deemed or c…
N.J.S.A. 31:1-6 Defense of usury by corporation, limited liability company, limited liability partnership; prohibited.
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31:1-6 Defense of usury by corporation, limited liability company, limited liability partnership; prohibited. 31:1-6. No corporation, limited liability company or limited liability partnership shall plead or set up the defense of usury to any action brought against it to recover …
N.J.S.A. 31:1-7 Interest rate limitations applicable to counties, municipalities, etc.; suspension
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31:1-7. Interest rate limitations applicable to counties, municipalities, etc.; suspension Notwithstanding the provisions of any other law, statute or regulation applicable to or constituting any limitation on the maximum rate of interest per annum payable on bonds, notes or othe…
N.J.S.A. 31:1-8 Liberal construction
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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 t…
N.J.S.A. 31:1-9 Nature and affect of act
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31:1-9. Nature and affect of act This act shall constitute and be construed as a suspension and as an amendment, for the aforesaid period, of the provisions of every law or statute establishing any limitation as to rate of interest per annum or cost of borrowing money applicable …
