No retail seller, sales finance company or holder shall make any loan of money or advance of credit to a retail buyer on or in connection with any retail installment contract or retail charge account and charge, contract for or receive thereon a greater rate of interest than he would otherwise be permitted by law to charge except in accordance with the provisions of this act; provided, however, that nothing contained in this section shall prohibit a banking institution from making any loan which it otherwise is permitted by law to make.
N.J. Stat. Ann. § 17:16C-40
Loan of money or advance of credit to retail buyer; rate of interest
Known as the New Jersey Automobile Full Insurance Availability Act
The act spans §§ 17:10B-1 to 17:9A-99 (3,637 sections).
L.1960, c. 40, p. 156, s. 40
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.