Title 38, Title 38: MILITIA--SOLDIERS, SAILORS AND MARINES

38:23B-12.1. Terms of loan for purchase of household furnishings Each loan to finance the purchase of household furnishings or household appliances, or both, made under this act shall: a. Be evidenced by a note or notes or other obligation approved by the commissioner. b. Bear in…

38:23B-13. Cost of loan The entire cost to the borrower of making any loan, regardless of amount, shall be included in a single charge of ten dollars ($10.00) for all costs, exclusive of interest, of which two dollars ($2.00) shall be paid by the bank to the authority; except, ho…

38:23B-14. Extension of loan Subject to such rules and regulations as the commissioner may prescribe, any veteran's loan heretofore or hereafter made under and pursuant to the provisions of this act for a period of less than six years may be extended or refinanced in the discreti…

38:23B-14.1. Insurance or guaranty; election by bank The authority is hereby authorized and empowered to insure or guaranty, whichever any bank may elect in accordance with the provisions of section eight hereof, all veterans' loans heretofore or hereafter made by such bank, to t…

38:23B-14.2. Notice of election by bank as to guarantee or insurance of loan Every bank which heretofore made any veteran's loan under and pursuant to the provisions of chapter one hundred twenty-six of the laws of one thousand nine hundred and forty-four and every bank which may…

38:23B-14.2a. Further election by bank Any bank which has heretofore elected, pursuant to the provisions of section eight of chapter one hundred eighty-five of the laws of one thousand nine hundred and forty-five, to have its approved veterans' loans guaranteed by the authority i…

38:23B-14.3. Reserve fund to be set aside where bank elects to have loans insured; defaults In the event that a bank shall elect, pursuant to the provisions of section eight hereof, to have its approved veterans' loans insured by the authority, then the authority shall set aside …

38:23B-14.4. Guaranteed loans; purchase of notes on default In the event that a bank shall elect, pursuant to the provisions of section eight hereof, to have its veterans' loans guaranteed by the authority, then the authority shall purchase upon demand of such bank, to the extent…

38:23B-14.4a. Total reserve funds The sum total of all reserve funds set aside by the authority in accordance with the provisions of section nine of chapter one hundred eighty-five of the laws of one thousand nine hundred and forty-five, together with such amount as the commissio…

38:23B-14.5. Limit on amount of guaranty and insurance liability outstanding The total amount of guaranty and insurance liability of the authority which may be outstanding at any time shall in no event exceed the sum of eleven million dollars ($11,000,000.00). L.1945, c. 185, p. …

38:23B-14.6. Payments by bank to authority for guaranty or insurance Every bank which has made or which may hereafter make any approved veteran's loan or loans shall, in consideration of the guaranty or insurance, as herein provided, pay to the authority an amount equal to ten pe…

38:23B-14.7. Repeal Section fifteen of the act of which this act is amendatory and supplementary is repealed. L.1945, c. 185, p. 630, s. 14.

38:23B-16. Liquidation of notes purchased; deferred payments The commissioner shall proceed to liquidate notes purchased by the authority as rapidly as possible, but shall develop and adopt programs for deferred payments by makers of such notes to avoid undue hardship or sacrific…

38:23B-17. Business counsellors The commissioner shall establish in each community where there may be a need, a business counseling service of nonsalaried counsellors, to advise with and assist veterans who apply for or obtain business loans under this act. Such counsellors shall…

38:23B-18. Duties of counsellors The commissioner shall, through the business counsellors, consult with veterans applying for business loans for the purpose of approving or disapproving such loans. Business counsellors shall from time to time visit the place of business or profes…

38:23B-19. Second loans For either one of the purposes set forth in section one of this act, no veteran shall accept more than one loan under the provisions of this act, regardless of the amount of such loan, except that a veteran who has received a veteran's loan for less than t…

38:23B-19.1. Second loans to veterans serving during national emergency Any veteran who has served in the active military or naval service of the United States at any time after September sixteenth, one thousand nine hundred and forty, and prior to December thirty-first, one thou…

38:23B-2. Veterans loan authority There is hereby created in the Department of Economic Development a "veterans loan authority," hereinafter referred to as the "authority," which shall be a body corporate and politic, with corporate succession. The functions, powers and duties of…

38:23B-20. Offenses and penalties Any person who, having obtained a veteran's loan under this act, solicits, applies for, or accepts another such loan, except as specifically authorized in this act, and any person who knowingly and willfully furnishes any false or misleading info…

38:23B-21. Name of act This act shall be known as the Veterans' Loan Act (1944). L.1944, c. 126, p. 350, s. 21. Amended by L.1946, c. 121, p. 568, s. 18, eff. April 22, 1946.

38:23B-22. Effective date This act shall take effect July first, one thousand nine hundred and forty-four. L.1944, c. 126, p. 350, s. 22, eff. July 1, 1944.

38:23B-22.1. Veterans Loan Authority; powers The Veterans Loan Authority in the Division of Veterans' Services in the Department of Conservation and Economic Development may, with respect to the exercise of its functions related to loans insured or guaranteed by it under the Vete…

38:23B-22.2. Transfer of powers and duties of Veterans' Loan Authority to State Department of Law and Public Safety On June 30, 1958, all of the powers, duties and functions of the Veterans' Loan Authority and all of its records, papers, documents, evidences of obligations, secur…

38:23B-23. Loans to minor veterans Any contract, promissory note or other written obligation, pledge, mortgage or conveyance, made or endorsed or joined in by any person over eighteen years of age, for himself or as husband or wife of any other person or in any other capacity, an…

38:23B-3. Powers The authority shall have power to contract, to sue and be sued, to make, amend and rescind such rules and regulations as may be necessary to carry out the provisions of this act; but the authority may not in any manner, directly or indirectly, pledge the credit o…

38:23B-4. Capitalization The authority shall have an original capitalization of five million dollars ($5,000,000.00) which shall be subscribed by the Treasurer of the State of New Jersey, and which is hereby appropriated out of the Post-War Reserve Account of the General State Fu…

38:23B-5. Veterans guaranteed loan fund All capital and revenues of the authority shall be held in trust in a veterans loan guaranty and insurance fund, hereinafter referred to as the "fund," to meet the obligations of the authority under this act; but any amounts in the fund in …

38:23B-6. Authority to make loans under act With the exception of a building and loan association, any financial corporation under the supervision of the Department of Banking and Insurance and any national bank organized under the laws of the United States and doing business in …

38:23B-7. "Veteran" defined; "national emergency" defined For the purpose of this act, a "veteran" shall mean any bona fide resident of the State who has or shall have served in the active military or naval service of the United States at any time after September sixteenth, one t…

38:23B-8. Application for loan; time limit; minor veterans eligible for loans A veteran, as defined herein, who has served in the active military or naval service of the United States at any time after September sixteenth, one thousand nine hundred and forty, and prior to Decembe…

38:23B-9. Approval of application for business loan Any application for a business loan made under this act shall be submitted to the commissioner for his approval. The commissioner shall approve the application only if he finds that: a. The purpose of the loan is to establish or…

38:23B-9.1. Approval of application for loan to purchase household furnishings Any application for a loan to finance the purchase of household furnishings or household appliances, or both, made under this act shall be submitted to the commissioner for his approval. The commission…