reglab/housing_qa huggingface dataset:
NJ Rev Stat § 38:23A-7 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23A-7 - Apprentice and on-the-job training for veterans; "present emergency" defined

38:23A-7. Apprentice and on-the-job training for veterans; "present emergency" defined  Each State department and each county and municipality in the State hereby is authorized and empowered to establish and maintain apprentice and on-the-job training programs for the employment of veterans of World War II as contemplated by public laws Nos. 16 and 346 of the Seventy-eighth Congress of the United States, and for persons who have served in the armed forces of the United States in the present emergency who may be entitled to on-the-job training benefits under any Federal law, and the head of each State Department and the governing body of each county and municipality is authorized to determine the positions to be included within such program and their rating and to fix the compensation to be paid to such veterans while serving therein under the supervision, and subject to the approval, of the Civil Service Commission in the case of State departments and the counties and municipalities in which subtitle three, of Title 11, Civil Service, of the Revised Statutes is in effect. The term "present emergency" as used in this act shall mean and include any time after June twenty-third, one thousand nine hundred and fifty, and prior to the termination, suspension or revocation of the proclamation of the existence of a national emergency issued by the President of the United States on December sixteenth, one thousand nine hundred and fifty, or termination of the existence of such national emergency by appropriate action of the President or Congress of the United States. L.1946, c. 162, p. 731, s. 1. Amended by L.1952, c. 232, p. 784, s. 2, eff. May 19, 1952.
NJ Rev Stat § 38:23B-1 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-1 - Purpose of act

38:23B-1. Purpose of act  The purposes of this act are to make it possible for certain qualified veterans to obtain: a. venture capital, at low rates of interest, which may be necessary to establish or re-establish themselves in a business or profession; and b. loans, at low rates of interest, which may be necessary to enable them to purchase household furnishings and household appliances required by them for use in their homes. L.1944, c. 126, p. 345, s. 1. Amended by L.1946, c. 121, p. 562, s. 3, eff. April 22, 1946.
NJ Rev Stat § 38:23B-2 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-2 - Veterans loan authority

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 the authority shall be vested in and may be exercised by the commissioner of the Department of Economic Development, hereinafter referred to as the "commissioner." L.1944, c. 126, p. 345, s. 2.
NJ Rev Stat § 38:23B-3 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-3 - Powers

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 of the State. L.1944, c. 126, p. 345, s. 3.
NJ Rev Stat § 38:23B-4 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-4 - Capitalization

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 Fund or the balance held as reserve for post-war needs or to meet expenditures of an emergency nature in the State Highway System Fund. L.1944, c. 126, p. 345, s. 4.
NJ Rev Stat § 38:23B-5 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-5 - Veterans guaranteed loan fund

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 excess of the total amount of guaranteed or insured loans outstanding at any time shall be subject to such disposition as may be provided by law. Such amounts in the fund as the authority shall estimate are not needed for its current operations shall be invested and reinvested by the State Treasurer in such obligations as are legal for savings banks of this State. L.1944, c. 126, p. 346, s. 5. Amended by L.1945, c. 185, p. 625, s. 1; L.1946, c. 121, p. 562, s. 5, eff. April 22, 1946.
NJ Rev Stat § 38:23B-6 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-6 - Authority to make loans under act

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 this State, which are hereinafter referred to as "any bank," may, any other provisions of law to the contrary notwithstanding, make veterans' loans under this act, pursuant to such rules and regulations not inconsistent herewith, and using such forms, as the commissioner may prescribe. L.1944, c. 126, p. 346, s. 6. Amended by L.1945, c. 185, p. 625, s. 2, eff. April 17, 1945.
NJ Rev Stat § 38:23B-7 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-7 - "Veteran" defined; "national emergency" defined

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 thousand nine hundred and forty, and prior to December thirty-first, one thousand nine hundred and forty-six, or at any time after June twenty-third, one thousand nine hundred and fifty, and prior to December sixteenth, one thousand nine hundred and fifty, or during a period of national emergency, and who shall have been discharged or released therefrom under conditions other than dishonorable after active service of ninety days or more, or has or shall have been discharged or released therefrom after less than ninety days of service for disability incurred in line of duty; except that no person shall be eligible for the benefits of this act by reason of service from which he has or shall have been discharged or released on his own initiative to accept employment unless he had served outside the continental limits of the United States or in Alaska. As used in this act, the term "national emergency" shall mean the existence of a national emergency as proclaimed by the President of the United States on December sixteenth, one thousand nine hundred and fifty, and shall include the period of time following such proclamation and until the termination, suspension or revocation thereof, or termination of the existence of such national emergency by appropriate action of the President or Congress of the United States. L.1944, c. 126, p. 346, s. 7. Amended by L.1951, c. 89, p. 484, s. 1, eff. May 22, 1951.
NJ Rev Stat § 38:23B-8 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-8 - Application for loan; time limit; minor veterans eligible for loans

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 December thirty-first, one thousand nine hundred and forty-six, may apply to any bank for a loan under the provisions of this act not later than June thirtieth, one thousand nine hundred and fifty-one. A veteran, as defined herein, who has or shall have served in the active military or naval service of the United States at any time after June twenty-third, one thousand nine hundred and fifty, and prior to December sixteenth, one thousand nine hundred and fifty, or during a period of national emergency as herein defined, may apply to any bank for a loan under the provisions of this act not later than two years after his discharge or release from such active service. Any veteran otherwise eligible for a loan pursuant to the provisions of this act, who is under the age of twenty-one years, is hereby empowered to enter into and contract for a loan or loans subject to the provisions of this act; provided, however, and notwithstanding any contrary provisions of law, such veteran shall not void such contract because of his age, nor shall such veteran hereafter interpose the defense that he is, or was at the time he entered into such contract, a minor in any action or proceeding arising out of any loan pursuant to the provisions of this act. L.1944, c. 126, p. 346, s. 8. Amended by L.1945, c. 185, p. 626, s. 3; L.1946, c. 121, p. 563, s. 6; L.1950, c. 216, p. 540, s. 1; L.1951, c. 89, p. 485, s. 2.
NJ Rev Stat § 38:23B-9 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-9 - Approval of application for business loan

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 re-establish one or more veterans in a business, including any agricultural pursuit, or profession; and b. The applicant has training or experience in the business or profession described in the application, or is otherwise qualified; and c. The amount of the loan would not exceed the maximum amount reasonably necessary to start in the business or profession or three thousand dollars ($3,000.00), whichever is less; and d. The ability and experience of the veteran, and the conditions under which he proposes to pursue such business or profession are reasonably favorable for the successful liquidation of the loan. L.1944, c. 126, p. 347, s. 9. Amended by L.1945, c. 185, p. 626, s. 4; L.1946, c. 121, p. 563, s. 7, eff. April 22, 1946.
NJ Rev Stat § 38:23B-9.1 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-9.1 - Approval of application for loan to purchase household furnishings

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 commissioner shall approve the application only if he finds that: a. The purpose of the loan is to finance the purchase by the applicant of specific household furnishings or household appliances, or both; and b. Such household property is required by the applicant for use in his home; and c. The amount of the loan would not exceed the maximum amount reasonably necessary to purchase such household property or one thousand dollars ($1,000.00), whichever is less; and d. The conditions under which the applicant proposes to finance the purchase of such household property are reasonably favorable for the successful liquidation of the loan. L.1946, c. 121, p. 563, s. 8.
NJ Rev Stat § 38:23B-10 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-10 - Effect of approval

38:23B-10. Effect of approval  Upon approval by the commissioner of a veterans' loan application, any bank may make the loan as approved and upon the terms and conditions required under this act. L.1944, c. 126, p. 347, s. 10, eff. July 1, 1944.
NJ Rev Stat § 38:23B-11 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-11 - Bank making loan to co-operate with commissioner

38:23B-11. Bank making loan to co-operate with commissioner  Any bank making a veterans' loan shall co-operate with the commissioner in supervising the use of the credit in accordance with its purposes. L.1944, c. 126, p. 347, s. 11.
NJ Rev Stat § 38:23B-12 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-12 - Terms of business loan

38:23B-12. Terms of business loan  Each business loan made under this act shall: a. Be evidenced by a note or other obligation approved by the commissioner. b. Bear interest at a rate not exceeding four per centum (4%) per annum upon the unpaid balance. c. Be payable as follows: (1) In monthly or quarterly installments of interest, the first of which shall be payable not less than six months after the making of the loan and the last of which shall be payable not exceeding six years from the date of the obligation; and (2) In monthly or quarterly installments of principal, the first of which shall be payable not less than twelve months after the making of the loan and the last of which shall be payable not exceeding six years from the date of the obligation; except, however, that any veteran at his option, may, on such form as the commissioner shall prescribe, waive the grace period, or any part thereof, herein provided him for the payment of the first installment of interest, or the grace period, or any part thereof, herein provided him for the payment of the first installment of principal, or both. d. Be secured only by the personal liability of the maker, and not by any endorsers, comakers, collateral or other security; except that in accordance with such rules and regulations as prescribed by the commissioner, where the maker is married endorsement of the spouse may be required, and where the loan, or any part thereof, is made to finance the purchase or improvement of any property a lien on such property may be required. Where the loan, or any part thereof, is made to finance the purchase or improvement of any property to be used by the veteran and any other person or persons in a business or profession to be conducted by them as partners, and a lien on such property is required pursuant to the rules and regulations of the commissioner, the instrument creating such lien may, pursuant to regulations prescribed by the commissioner, be required to be made and executed by such partners, individually and as copartners doing business under their trade name. Notwithstanding the provisions of any other law to the contrary every such lien instrument, properly recorded, shall be valid and effective against all creditors of such partnership. L.1944, c. 126, p. 347, s. 12. Amended by L.1945, c. 185, p. 626, s. 5; L.1946, c. 121, p. 564, s. 9; L.1947, c. 190, p. 838, s. 1, eff. May 23, 1947.
NJ Rev Stat § 38:23B-12.1 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-12.1 - Terms of loan for purchase of household furnishings

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 interest at a rate not exceeding four per centum (4%) per annum upon the unpaid balance. c. Be payable in monthly or quarterly installments of principal and interest, the first of which shall be payable not less than three months after the making of the loan and the last of which shall be payable not exceeding two years from the date of the obligation; except, however, that any veteran at his option, may, on such form as the commissioner shall prescribe, waive the grace period, or any part thereof, herein provided him for the payment of the first installment of principal and interest. d. Be secured only by the personal liability of the maker, and not by any endorsers, comakers, collateral or other security; except that a lien on the property purchased with the proceeds of the loan shall be required, and, in accordance with such rules and regulations as prescribed by the commissioner, where the maker is married endorsement of the spouse may be required. L.1946, c. 121, p. 565, s. 10. Amended by L.1947, c. 190, p. 840, s. 2.
NJ Rev Stat § 38:23B-13 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-13 - Cost of loan

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, however, that whenever any veteran's loan is, under the provisions of this act, required to be secured by a lien on property purchased with all or part of the proceeds of such loan, an additional amount, not to exceed a maximum amount which shall be prescribed by the commissioner, may be charged to the borrower to defray the expenses incurred in connection with the making of the instrument creating the lien, including search fees and recording fees. L.1944, c. 126, p. 348, s. 13. Amended by L.1946, c. 121, p. 566, s. 11.
NJ Rev Stat § 38:23B-14 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-14 - Extension of loan

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 discretion of the bank without affecting the obligation of the authority hereunder; provided, provision is made for complete discharge of the obligation, and interest thereon, not later than six years from the date of the original loan. Except as the commissioner may prescribe in the terms of any instrument creating a lien required under the provisions of this act, installments may not be accelerated on any veteran's loan unless the loan is more than three months in arrears. A loan may be reduced at any time in the option of the borrower. L.1944, c. 126, p. 348, s. 14. Amended by L.1945, c. 185, p. 627, s. 6; L.1946, c. 121, p. 566, s. 12.
NJ Rev Stat § 38:23B-14.1 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-14.1 - Insurance or guaranty; election by bank

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 the extent provided in section nine or section ten hereof respectively. L.1945, c. 185, p. 628, s. 7.
NJ Rev Stat § 38:23B-14.2 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-14.2 - Notice of election by bank as to guarantee or insurance of loan

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 hereafter make its initial veteran's loan shall elect, prior to the first day of July, one thousand nine hundred and forty-five, or simultaneously with the submission for approval of its initial veteran's loan, whichever is later, to have all veterans' loans made and to be made by such bank either insured in accordance with the provisions of section nine hereof or guaranteed in accordance with the provisions of section ten hereof. Notice of such election shall be made on such form as the commissioner shall prescribe. L.1945, c. 185, p. 628, s. 8.
NJ Rev Stat § 38:23B-14.2a (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-14.2a - Further election by bank

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 in accordance with the provisions of section ten of said chapter one hundred eighty-five of the laws of one thousand nine hundred and forty-five, may at any time elect to have all of its approved veterans' loans then outstanding and all approved veterans' loans thereafter to be made by it insured in accordance with the provisions of section nine of said chapter one hundred eighty-five of the laws of one thousand nine hundred and forty-five. Notice of such election shall be made on such form as the commissioner shall prescribe. L.1946, c. 121, p. 567, s. 13, eff. April 22, 1946.
NJ Rev Stat § 38:23B-14.3 (2021)
2021 New Jersey Revised Statutes|Title 38 - Militia--Soldiers, Sailors and Marines|Section 38:23B-14.3 - Reserve fund to be set aside where bank elects to have loans insured; defaults

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 out of the veterans guaranty and insurance fund a reserve fund to the credit of such bank equal to twenty per centum (20%) of the total face amount of all of such bank's approved veterans' loans outstanding at the time of such election. The authority shall add to such reserve fund twenty per centum (20%) of the amount of each approved veteran's loan thereafter made by such bank. In the event that the total of all amounts credited to said reserve fund shall at any time be in excess of the total face amount of all such bank's approved veterans' loans outstanding, then the authority shall withdraw such excess amount from said reserve fund. The reserve fund so set aside shall be used by the authority to meet and pay any losses incurred by said bank by reason of such loans, but in no event shall any payment be made by the authority to any bank beyond the total balance set aside as the reserve fund for such bank at the time of such payment. Whenever any approved veteran's note shall be in default to any such bank for thirty days after the date of maturity thereof, or whenever any installment thereon is more than three months in arrears, the authority shall, upon the demand of such bank, purchase from said bank such note by paying to said bank out of the reserve fund set aside to the credit of said bank, as herein provided, the total amount of principal and interest then due and owing to said bank on said note, but in no event shall any payment be made by the authority in excess of the amount then remaining to the credit of said bank in the reserve fund set aside for said bank, as herein provided. L.1945, c. 185, p. 628, s. 9.