New Jersey Statutes
§ 17:11C-38 — Certain payments deemed loan secured by assignment.
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
38.The payment of $50,000 or less in money, credit, goods or things in action, as consideration for any sale, assignment or order for the payment of wages, salary, commissions or other compensation for services, whether earned or to be earned, shall, for the purposes of this act, be deemed a loan secured by the assignment. The transaction shall be governed by and subject to the provisions of this act and any such sale, assignment or order hereafter made shall, for the purposes of this act, be void and of no effect. L.1996,c.157,s.38; amended 2001, c.294, s.4.
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New Jersey § 17:11C-38 (Certain payments deemed loan secured by assignment.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 17:11C-1
Short title amended.§ 17:11C-11
Issuance, surrender, expiration of license.§ 17:11C-12
Approval of transfer, sale.§ 17:11C-16
Net worth requirements for consumer lenders§ 17:11C-17
Change of address notice.§ 17:11C-18
Commissioner's authority relative to issuance, revocation, oversight of licenses, enforcement.§ 17:11C-2
Definitions regarding licensed lenders.§ 17:11C-21
Purchase of insurance by borrowers.§ 17:11C-35
Limits on closed-end consumer loans