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Can you summarize NJST Chapter 17:3B?
CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE >
Short Summary
This legal document provides definitions for various terms used in the context of credit and lending. It governs the terms and concepts related to borrowers, closed end credit, credit devices, lenders, loans, notes or loan agreements, outstanding unpaid indebtedness, purchases, revolving credit plans, and periodic percentage rates. The document applies to natural persons obtaining credit for personal, family, or household purposes, as well as lenders such as banking institutions, federally chartered savings banks, and associations. It does not mention any specific exemptions or penalties. The definitions provided in this document serve as a foundation for understanding and interpreting credit and lending-related laws and regulations.
Whom does it apply to?
This document applies to natural persons obtaining credit for personal, family, or household purposes, as well as lenders such as banking institutions, federally chartered savings banks, and associations.
What does it govern?
This legal document provides definitions for various terms used in the context of credit and lending. It governs the terms and concepts related to borrowers, closed end credit, credit devices, lenders, loans, notes or loan agreements, outstanding unpaid indebtedness, purchases, revolving credit plans, and periodic percentage rates.
What are exemptions?
No specific exemptions are mentioned in this document.
What are the Penalties?
No specific penalties are mentioned in this document.
Jurisdiction
New Jersey