17:2A-3 - Basis for rules; rates and interest charges; property not affected by disaster - New Jersey Statutes

17:2A-3.  Basis for rules;  rates and interest charges;  property not affected by disaster
    In the adoption, implementation and administration of such emergency rules and regulations, the commissioner shall consider the interest of disaster victims, the welfare of the public generally and the safety of the financial institutions involved.  The commissioner shall have no power to relax, waive or  modify any statutory limitation upon permissible rates or lawful interest charges.  He shall incorporate in such regulations precautions necessary to prevent the use of any broadened mortgage powers permitted by rule or regulation in connection with real property not destroyed, damaged or materially affected by the disaster.

     L.1962, c. 43, s. 3.