17:2A-1 - Definitions - New Jersey Statutes

17:2A-1.  Definitions
    For the purposes of this act:

    (a)  "Mortgage loan"  means:

     (1) A loan made by a financial institution, secured by a mortgage constituting a lien upon real property or upon a lease of the fee of real property;  and,

    (2) An existing mortgage or part interest thereof purchased by a financial institution and constituting a lien upon real property or upon a lease of the fee of real property.

    (b)  "Financial institution"  means any bank, savings bank, savings and loan  association, building and loan association or insurance company organized or  doing business under the laws of this State and supervised by the Commissioner  of Banking and Insurance.

    (c)  "Disaster area"  means any area of this State which has been proclaimed  by the President of the United States or the Governor of this State or any  official lawfully succeeding to their respective duties to be a disaster area  within the meaning of applicable Federal or State law.

    (d)  "Period of emergency"  means a period terminating one year from the date an area was proclaimed to be a disaster area, unless extended as provided in section 5 of this act.

     L.1962, c. 43, s. 1.