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Nj-new jersey Usury and Regulations
Overview of brand new Jersey Usury Law(s) / Quote: « Legal: 6% / agreement: 16% / Judgment: No provisions that are specific Corporate: No specified price »
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Nj-new Jersey Usury Law Information:
Legal optimum Interest Rates: Quote: « 6% or as much as 16% for agreement (В§31:1-1); loans more than 30% or 50% in restricted obligation to corporations aren’t allowed (В§2C:21-19) »
Usury Penalties: Quote: « just amount lent can be restored (В§31:1-3); bad of unlawful usury or more to $250,000 fine (В§2C:21-19) »
Appropriate Exceptions: Quote: « Loan for more than $50,000; cost cost cost cost savings and loans; banking institutions; Department of Housing and Urban Affairs along with other companies authorized by the crisis Residence Finance Act of 1970; state or authorities or quasi-governmental companies (В§31:1-1) »