N.J.S.A. 46:10B-11

Points; liability for receiving

46:10B-11. Points; liability for receiving Any holder of a mortgage loan or agent acting on behalf of the holder of a mortgage loan who shall knowingly receive points as defined herein shall be liable to the mortgagor for the return of the points and all interest paid on the mortgage loan plus a penalty of $1,000.00 and costs to be recovered by the mortgagor in a civil action instituted within 6 years from the date of payment of the points. L.1968, c. 54, s. 11, eff. June 6, 1968.

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This is the verbatim text of N.J.S.A. 46:10B-11, 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.