17:9A-59.11 - Limitation upon liability to bank on advance loans - New Jersey Statutes

17:9A-59.11.  Limitation upon liability to bank on advance loans    No bank shall make any advance loan for the payment of which any person shall be liable in any capacity to the bank if the making of such loan would cause the liability in any capacity of such person to the bank on all advance loans to exceed $25,000.00, exclusive of interest, insurance premiums and other  charges.

     L.1959, c. 91, p. 225, s. 11.  Amended by L.1968, c. 64, s. 11;  L.1981, c. 37, s. 10, eff. Feb. 12, 1981;  L.1984, c. 225, s. 2, eff. Dec. 26, 1984.