N.J.S.A. 17:9A-53.8

Disbursement in more than one advance; principal amount of loan

17:9A-53.8. Disbursement in more than one advance; principal amount of loan When pursuant to an agreement between a banking institution and a borrower, an educational loan will be disbursed in more than one advance, the principal amount immediately following an advance shall be the amount owing on such loan immediately before such advance is made, plus the principal amount of the advance then being made. L.1975, c. 287, s. 7, eff. Jan. 12, 1976.

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This is the verbatim text of N.J.S.A. 17:9A-53.8, 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.