17:16C-40 - Loan of money or advance of credit to retail buyer; rate of interest - New Jersey Statutes

17:16C-40.  Loan of money or advance of credit to retail buyer;  rate of interest
    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.

     L.1960, c. 40, p. 156, s. 40.  Amended by L.1971, c. 409, s. 11.