New Jersey § 17:3B-12 Loans under a revolving credit plan

New Jersey Statutes

§ 17:3B-12 — Loans under a revolving credit plan

New Jersey § 17:3B-12

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

This text of New Jersey § 17:3B-12 (Loans under a revolving credit plan) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17:3B-12 (2026).

Text

9.Loans under a revolving credit plan. If the agreement governing the revolving credit plan so provides, a lender may: a. Take personal or real property, or both, as security on a loan made under a revolving credit plan; b. Require that any property securing the loan be insured for the benefit of the lender against loss or damage of the security, and retain out of the proceeds of the loan the premium for the insurance; c. Require that all taxes, assessments and other governmental charges against property securing the loan be paid when due and that the security be maintained free of all executions, levies, encumbrances, and other charges which may adversely affect the value of the lender's interest in the security; d. Charge and collect fees and charges, in addition to interest and fees an

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9. Loans under a revolving credit plan. If the agreement governing the revolving credit plan so provides, a lender may: a. Take personal or real property, or both, as security on a loan made under a revolving credit plan; b. Require that any property securing the loan be insured for the benefit of the lender against loss or damage of the security, and retain out of the proceeds of the loan the premium for the insurance; c. Require that all taxes, assessments and other governmental charges against property securing the loan be paid when due and that the security be maintained free of all executions, levies, encumbrances, and other charges which may adversely affect the value of the lender's interest in the security; d. Charge and collect fees and charges, in addition to interest and fees and charges specifically permitted by P.L.1985, c.81 (C.17:3B-4 et seq.), in amounts as provided in the agreement or as established in the manner the agreement provides, such as, but not limited to, minimum charges, annual fees, check charges, maintenance charges, and late charges, except as may be specifically limited by P.L.1985, c.81 (C.17:3B-4 et seq.); e. On a secured loan, charge and collect the actual costs of filing or recording the instrument of security, or notice or abstract thereof, if the filing or recording is authorized by law.L.1985,c.81,s.9; amended 1997, c.12, s.2; 1997,c.33, s.3.