2009 Nj Code Title 17 – Companies And you can Establishments To have Funds And you will Insurance Section C C-41 – Individual loan providers, prohibited strategies

41. Another means should be prohibited and you will a ticket of your “Nj-new jersey Individual Loans Licensing Work,” parts step one using forty two from P.L.1996, c.157 (C.C-step 1 ainsi que seq.):

good. No individual lender should make mortgage upon safeguards of every assignment off otherwise order to the fee of every salary, wages, earnings and other payment having functions made, or even to feel gained, nor should any such project otherwise purchase be used by the good licensee at any time about the one unsecured loan, or for the fresh enforcement otherwise cost thereof, and such task or order hereafter very pulled or given so you can secure people loan made by any licensee lower than so it operate shall be void as well as no impression. Read more