N.J.S.A. 17:9A-53.6

Limitation on duration of loan

17:9A-53.6. Limitation on duration of loan No banking institution shall make an educational loan, or an advance on an educational loan which is disbursed in more than one advance, which is repayable in more than 7 years. For the purposes of this section an educational loan shall be deemed to be made each time an advance is made thereon. L.1975, c. 287, s. 5, eff. Jan. 12, 1976.

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This is the verbatim text of N.J.S.A. 17:9A-53.6, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.