reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:3-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3-3 - Definitions and construction

17:3-3. Definitions and construction  The words "receiver," "liquidator" and "official," as used in this section and section 17:3-2 of this Title, include any person or group of persons, who under appointment, order, decree or judgment of a court of competent jurisdiction, or by virtue of any statute of this State, shall be authorized and empowered to take custody and control of the assets of any corporation organized under the laws of this State and subject to the supervision and control of the department of banking and insurance, and to dispose of the same by sale or otherwise for the benefit of creditors and stockholders of any such corporation. The term "corporation" as used in this section and section 17:3-2 of this Title shall not include a bank or savings bank as defined in section one of the Banking Act of 1948 (P.L.1948, c. 67, as amended by P.L.1949, c. 44, s. 1). Section 17:3-2 of this Title shall be deemed to be remedial in its purpose and to be enacted to enable a liquidating officer to use such discretion as will enable him to dispose of mortgages and mortgage securities to better advantage than they can be disposed of under existing conditions. Amended by L.1953, c. 17, p. 153, s. 4.
NJ Rev Stat § 17:3A-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-1 - Definitions

17:3A-1. Definitions  As used in this act: (a) "Corporation" shall mean a corporation organized pursuant to any law of this State, over which the Commissioner of Banking and Insurance or the Department of Banking and Insurance is required or authorized by law to exercise supervisory or regulatory powers; (b) "Liquidator" means (1) the trustee or trustees in voluntary dissolution of a corporation; (2) the Commissioner of Banking and Insurance in the exercise of his statutory power to take possession of and to liquidate a corporation; (3) the receiver or receivers, or the trustee or trustees appointed by a court of competent jurisdiction to liquidate a corporation; and (4) every person or persons engaged in the liquidation of a corporation in dissolution pursuant to any statute of this State, or by virtue of any lawful order, decree, judgment or proclamation of any administrative, executive or judicial officer of this State. L.1948, c. 266, p. 1156, s. 1. Amended by L.1953, c. 17, p. 153, s. 5.
NJ Rev Stat § 17:3A-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-2 - Application during liquidation for order to destroy records, etc.; notice of application; publication; order for destruction

17:3A-2. Application during liquidation for order to destroy records, etc.; notice of application; publication; order for destruction  At any time during the liquidation of a corporation, the liquidator may apply to the Superior Court for an order authorizing the destruction of such of the records, documents and other papers of the corporation, excluding those relating to the liquidation, which, in the opinion of the liquidator, it is unnecessary further to preserve or retain. The court may, in its discretion, order that notice of the application be advertised not less than once a week for three successive weeks, in a newspaper published in the municipality in which the corporation maintained its principal office, or, if there be no such newspaper, then in one published in the county in which such principal office was maintained, or in an adjoining county, and which has a general circulation in such municipality. If the court is satisfied that no rights will be adversely affected by the destruction of such records, documents and other papers, and that their further preservation or retention is unnecessary, it may make an order authorizing the liquidator to destroy them. L.1948, c. 266, p. 1157, s. 2.
NJ Rev Stat § 17:3A-3a (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-3a - Application after liquidation for order to destroy records, etc.; notice of application; publication; order for destruction

17:3A-3a. Application after liquidation for order to destroy records, etc.; notice of application; publication; order for destruction  At any time after liquidation of the corporation has been completed and final distribution made, the liquidator may apply to the Superior Court for an order authorizing the destruction of all records, documents and other papers relating to the liquidation, and of all records, documents and other papers of the corporation not previously destroyed pursuant to section two. The court may, in its discretion, order that notice of the application be advertised in the manner provided by section two. If the court is satisfied that the liquidation has been completed and final distribution made, it may make an order authorizing the liquidator to destroy such records, documents and other papers on or after a date to be designated in such order, but in no case shall such destruction take place until after the expiration of one year from the completion of such liquidation and the making of the final distribution. L.1948, c. 266, p. 1157, s. 3-A.
NJ Rev Stat § 17:3A-3b (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-3b - Destruction of records after five years from liquidation date without leave of court; notice

17:3A-3b. Destruction of records after five years from liquidation date without leave of court; notice  At any time after the expiration of five years from the date on which the liquidation of a corporation shall have been completed and final distribution made, the liquidator may, in his discretion, and without leave of court, destroy, or cause to be destroyed, any of the records, documents and other papers of the corporation, including those relating to the liquidation, which, in his opinion, it is unnecessary further to preserve or retain; provided, however, that the liquidator shall first give notice of his intention so to do by advertising such notice in the manner provided in section two. L.1948, c. 266, p. 1158, s. 3-B.
NJ Rev Stat § 17:3A-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-4 - Liquidator not accountable for authorized destruction

17:3A-4. Liquidator not accountable for authorized destruction  No liquidator shall be held accountable for any act of destruction authorized in the manner provided by this act. L.1948, c. 266, p. 1158, s. 4.
NJ Rev Stat § 17:3A-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-5 - Corporations affected by act

17:3A-5. Corporations affected by act  The provisions of this act shall apply to all corporations heretofore liquidated; to all corporations in process of liquidation on the effective date of this act; and to all corporations to be liquidated after the effective date of this act. L.1948, c. 266, p. 1158, s. 5.
NJ Rev Stat § 17:3A-6 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-6 - Presumption as to prior law

17:3A-6. Presumption as to prior law  No presumption shall be drawn from the enactment of this act that, prior to its passage, liquidators were without power or authority to destroy the records, documents and other papers of a corporation or those relating to its liquidation. L.1948, c. 266, p. 1158, s. 6.
NJ Rev Stat § 17:3A-7 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3A-7 - Effective date

17:3A-7. Effective date  This act shall take effect September sixteenth, one thousand nine hundred and forty-eight. L.1948, c. 266, p. 1158, s. 7.
NJ Rev Stat § 17:3B-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-1 - Truth in lending; inconsistent state provisions

17:3B-1. Truth in lending; inconsistent state provisions  To the extent that the provisions of any of the following cited New Jersey laws are inconsistent with respect to disclosure, advertising, terminology, type size, method of computation of finance charges, form, content, or time of delivery provisions and requirements of Title I, the Truth in Lending Act, of the Consumer Credit Protection Act (Public Law 90-321, 82 Stat. 146) and regulations issued pursuant thereto, compliance with said Federal law and regulations shall be deemed and construed to be compliance with the specifically related provisions of the following New Jersey laws: The Banking Act of 1948, P.L.1948, chapter 67 (C. 17:9A-1 et seq.) Advance Loan Law of 1968, P.L.1959, chapter 91 (C. 17:9A-59.1 to 17:9A-59.17) Small Business Loan Act, P.L.1964, chapter 162 (C. 17:9A-59.25 to 17:9A-59.39) Credit Life Insurance, P.L.1963, chapter 103 (C. 17:9A-70.1 to 17:9A-70.2) Credit Life and Accident and Health Insurance, P.L.1958, chapter 169 (C. 17:38A-1 to 17:38A-15) Small Loan Law (R.S. 17:10-1 et seq.) The Secondary Mortgage Act of 1965, P.L.1965, chapter 91 (C. 17:11A-1 et seq.) Savings and Loan Act (1963) P.L.1963, chapter 144 (C. 17:12B-1 et seq.) Credit Union Law, P.L.1938, chapter 293 (C. 17:13-26 to 17:13-74) Installment Loan Rate Advertising Act, P.L.1965, chapter 169 (C. 17:13A-1 et seq.) Retail Installment Sales Act of 1960, P.L.1960, chapter 40 (C. 17:16C-1 to 17:16C-61) Door-to-Door Installment Sales Act of 1968, P.L.1968, chapter 223 (C. 17:16C-61.1 to 17:16C-61.9) Home Repair Financing Act, P.L.1960, chapter 41 (C. 17:16C-62 to 17:16C-94) Door-to-Door Home Repair Sales Act of 1968, P.L.1968, chapter 224 (C. 17:16C-95 to 17:16C-103) Insurance Premium Finance Company Act, P.L.1968, chapter 221 (C. 17:16D-1 et seq.) Pawnbrokers (R.S. 45:22-1 et seq.) L.1969, c. 112, s. 1.
NJ Rev Stat § 17:3B-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-2 - Violation of truth in lending act and state law; civil actions

17:3B-2. Violation of truth in lending act and state law; civil actions  When under any law of this State, a civil action is expressly provided for any act or failure to act which constitutes a violation of any provision of such law, and such act or failure to act also constitutes a violation of the Truth in Lending Act, Title I of the Consumer Credit Protection Act (Public Law 90-321, 82 Stat. 146) for which a civil action may be brought under the provisions of the Truth in Lending Act, the provisions of the Truth in Lending Act shall supersede the provisions of State law when the penalty for violation of the Truth in Lending Act is more severe than the penalty for violation of the State law, to the end that only one recovery may be had for such act or failure to act. L.1969, c. 112, s. 2.
NJ Rev Stat § 17:3B-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-3 - Rules and regulations

17:3B-3. Rules and regulations  The Commissioner of Banking and Insurance may promulgate appropriate rules and regulations to effectuate the purposes of this act. L.1969, c. 112, s. 3.
NJ Rev Stat § 17:3B-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-4 - Short title

17:3B-4. Short title  This act shall be known and may be cited as the "Market Rate Consumer Loan Act."  L. 1985, c. 81, s. 1, eff. March 14, 1985.
NJ Rev Stat § 17:3B-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-5 - Definitions

17:3B-5. Definitions  Definitions. As used in this act:  a. "Borrower" means a natural person or persons obtaining credit for personal, family or household purposes.  b. "Closed end credit" means the extension of credit by a lender to a borrower pursuant to a note or loan agreement which contains a term of payment and which is not a revolving credit plan.  c. "Credit device" means any card, check, identification code, or other means of identification contemplated by the agreement governing a revolving credit plan.  d. "Lender" means a banking institution as defined in section 1 of P.L. 1948, c. 67 (C. 17:9A-1), a federally chartered savings bank, and an association as defined in section 5 of P.L. 1963, c. 144 (C. 17:12B-5).  e. "Loan" means an advance or extension of credit to a borrower.  f. "Note" or "loan agreement" means a promissory note, bond or other written evidence of the extension by the lender of credit to a borrower.  g. "Outstanding unpaid indebtedness" means, on any day, the amount not in excess of the total amount of purchases and loans charged to the borrower's account under the plan, which is outstanding and unpaid at the end of such day, after adding the aggregate amount of any new purchases and loans charged to the account as of that day and deducting the aggregate amount of any payments and credits applied to that indebtedness as of that day.  h. "Purchases" means an agreement to make payment for property of whatever nature, real or personal, tangible or intangible, and an agreement to make payment for services, licenses, taxes, official fees, fines, private or governmental obligations, or any other thing of value.  i. "Revolving credit plan" or "plan" means a plan contemplating the extension of credit under an account governed by an agreement between a lender and a borrower pursuant to which:  (1) The lender permits the borrower and, if the agreement governing the plan so provides, persons acting on behalf of or with authorization from the borrower, from time to time to make purchases or to obtain loans by use of a credit device;  (2) The amounts of the purchases and loans are charged to the borrower's account under the revolving credit plan;  (3) The borrower is required to pay the lender the amounts of all purchases and loans charged to the borrower's account under the plan but has the privilege of paying those amounts outstanding from time to time in full or in installments; and  (4) Interest may be charged and collected by the lender from time to time on the outstanding unpaid indebtedness under that plan, except that interest shall be calculated on a simple interest basis.  j. "Periodic percentage rate" means a rate of interest on a revolving credit plan or under a closedend credit agreement for a daily, weekly, monthly, annual or other period.  L. 1985, c. 81, s. 2, eff. March 14, 1985.
NJ Rev Stat § 17:3B-6 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-6 - Extension of credit under revolving credit plan

17:3B-6. Extension of credit under revolving credit plan  Extension of credit under revolving credit plan. Any lender offering and extending credit under a revolving credit plan to a borrower may charge and collect interest and charges and may take security as collateral in connection therewith as hereinafter provided. Credit may be extended under a revolving credit plan by a lender's acquisition of obligations arising out of the honoring by a merchant, a lender, whether chartered or organized under the laws of this or any other state, the District of Columbia, the United States or any district, territory or possession of the United States, or any foreign country, or a government or governmental subdivision or agency of a credit device made available to a borrower under a plan, whether directly or indirectly by means of telephone, point of sale terminal, automated teller machine or other electronic or similar device or through the mails.  L. 1985, c. 81, s. 3, eff. March 14, 1985.
NJ Rev Stat § 17:3B-7 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-7 - Interest

17:3B-7. Interest  Interest. Notwithstanding the provisions of R.S. 31:1-1, a lender may, subject to the criminal usury provisions of N.J.S. 2C:21-19, charge and collect interest under a revolving credit plan on outstanding unpaid indebtedness in the borrower's account under the plan at daily, weekly, monthly, annual or other periodic percentage rates as the agreement governing the plan provides or as established in the manner provided in the agreement governing the plan. If the applicable periodic percentage rate under the agreement governing the plan is other than daily, interest may be calculated on an amount not in excess of the average of outstanding unpaid indebtedness for the applicable billing period, determined by dividing the total of the amounts of outstanding unpaid indebtedness for each day in the applicable billing period by the number of days in the billing period. If the applicable periodic percentage rate under the agreement governing the plan is monthly, a billing period shall be deemed to be a month or monthly if the last day of each billing period is on the same day of each month or does not vary by more than four days therefrom.  Nothing in this section shall be construed to authorize the charging of interest on the amount of any accrued interest remaining unpaid on the account.  L. 1985, c. 81, s. 4, eff. March 14, 1985.
NJ Rev Stat § 17:3B-8 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-8 - Periodic percentage rates

17:3B-8. Periodic percentage rates 5. Periodic percentage rates. If the agreement governing the revolving credit plan provides that the periodic percentage rates of interest under the plan may increase or decrease, the increase or decrease shall take place only in correspondence with the movement of the market interest rate index specified in the revolving credit plan agreement, which index shall be readily verifiable by the borrower and beyond the control of the lender. Periodic percentage rate increases, based on a rise in the interest rate index, may be made at the option of the lender. Periodic percentage rate decreases shall be made whenever there is a decrease in the interest rate index which results in an interest rate which is less than the interest rate then applicable to the note or loan, except that the revolving credit plan agreement may stipulate a percentage decrease in the interest rate index below which a corresponding decrease in the periodic percentage rate need not be made by the lender, provided that the index decrement shall be the same as the index increment used for interest rate increases. Interest rate increases may, and interest rate decreases shall, apply to all outstanding unpaid indebtedness under the plan on or after the effective date of the rate variation, as provided in the plan agreement. L.1985,c.81,s.5; amended 1997, c.12, s.1; 1997, c.33, s.2.
NJ Rev Stat § 17:3B-9 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-9 - Purchases and loans--differing terms

17:3B-9. Purchases and loans--differing terms  Purchases and loans--differing terms. A lender may, if the agreement governing a revolving credit plan so provides, impose different terms, including, without limitation, the terms governing the periodic percentage rate or rates used to calculate interest, the method of computing the outstanding unpaid indebtedness to which the rates are applied, and the terms of the installment repayment schedule, with respect to indebtedness arising out of purchases or loans made under the plan.  L. 1985, c. 81, s. 6, eff. March 14, 1985.
NJ Rev Stat § 17:3B-10 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-10 - Overdraft accounts

17:3B-10. Overdraft accounts  Overdraft accounts. If credit under a revolving credit plan is offered and extended in connection with a demand deposit account or other account maintained by the borrower with the lender pursuant to an agreement or arrangement whereby the lender agrees to honor checks, drafts or other debits to the account, which if paid would create or increase a negative balance in the account, by making extensions of credit to the borrower under the revolving credit plan, any charges customarily imposed by the lender, under the terms governing the demand deposit or other transaction account in the absence of any associated revolving credit plan, may continue to be imposed on the account without specific reference thereto or incorporation thereof by reference in the agreement governing the revolving credit plan, and the amount of the charge, to the extent the balance in the demand deposit or other transaction account is insufficient to pay the charge, may be charged to the borrower's account under the plan as a loan thereunder and may be included in outstanding unpaid indebtedness in accordance with the terms of the agreement governing the revolving credit plan.  L. 1985, c. 81, s. 7, eff. March 14, 1985.
NJ Rev Stat § 17:3B-11 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-11 - Omitted installments

17:3B-11. Omitted installments  Omitted installments. A lender may at any time extend to a borrower under a revolving credit plan the option of omitting monthly installments.  L. 1985, c. 81, s. 8, eff. March 14, 1985.
NJ Rev Stat § 17:3B-12 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-12 - Loans under a revolving credit plan

17:3B-12. Loans under a revolving credit plan  9. Loans under a revolving credit plan. If the agreement governing the revolving credit plan so provides, a lender may:  a. Take personal or real property, or both, as security on a loan made under a revolving credit plan;  b. Require that any property securing the loan be insured for the benefit of the lender against loss or damage of the security, and retain out of the proceeds of the loan the premium for the insurance;  c. Require that all taxes, assessments and other governmental charges against property securing the loan be paid when due and that the security be maintained free of all executions, levies, encumbrances, and other charges which may adversely affect the value of the lender's interest in the security; d. Charge and collect fees and charges, in addition to interest and fees and charges specifically permitted by P.L.1985, c.81 (C.17:3B-4 et seq.), in amounts as provided in the agreement or as established in the manner the agreement provides, such as, but not limited to, minimum charges, annual fees, check charges, maintenance charges, and late charges, except as may be specifically limited by P.L.1985, c.81 (C.17:3B-4 et seq.); e. On a secured loan, charge and collect the actual costs of filing or recording the instrument of security, or notice or abstract thereof, if the filing or recording is authorized by law.L.1985,c.81,s.9; amended 1997, c.12, s.2; 1997,c.33, s.3.
NJ Rev Stat § 17:3B-13 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:3B-13 - Revolving credit plan prohibitions

17:3B-13. Revolving credit plan prohibitions  10. Revolving credit plan prohibitions. No revolving credit plan agreement shall contain:  a. An acceleration clause under which any part or all of the balance, not yet matured, may be declared immediately due and payable because the lender deems himself to be insecure, which provision shall be void and unenforceable;  b. A provision whereby the borrower waives any right of action or defense against the lender or other person acting on his behalf for any illegal act committed in the collection of the payments under the revolving credit plan, which provision shall be void and unenforceable; and  c. A power of attorney to confess judgment or any other power of attorney, which provision shall be void and unenforceable.  d. (Deleted by amendment, P.L.1997, c.12.) L.1985,c.81,s.10; amended 1997, c.12, s.3; 1997, c.33, s.4.