N.J. Stat. § 17:16C-39.1

Current through L. 2024, c. 80.
Section 17:16C-39.1 - Real property mortgage as additional security; prohibition

No retail installment contract, retail charge account or separate instrument executed in connection therewith shall contain any provision whereby the retail seller, sales finance company or holder takes a real property mortgage as additional security in connection with a retail sale. Any such provision shall be void and unenforceable.

N.J.S. § 17:16C-39.1

L.1981, c.324, s.2, eff. 12/9/1981.