N.J. Stat. § 17:9A-59.8

Current through L. 2023, c. 194.
Section 17:9A-59.8 - Service charges

In addition to the other charges which are authorized to be made by this act, a bank may collect a service charge from each advance loan borrower for each billing cycle in which any part of an advance loan remains unpaid. Such service charge shall not exceed a sum equal to (a) the number of advance loans to such borrower during such billing cycle multiplied by $0.25 or (b) the number of advance loan contracts between the bank and the borrower multiplied by $0.50, whichever is the greater.

N.J.S. § 17:9A-59.8

L.1959, c.91, p.225, s.8; amended by L.1968, c.64, s.8; L.1981, c.37, s.8, eff. 2/12/1981.