46:10B-14. Use for dwelling units; limits on interest
74 words·~1 min read·
/nj/title-46/chapter-10b/46-10b-14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Graduated payment mortgages may be secured only by real estate on which there is erected or to be erected a structure containing one, two, three, four, five, or six dwelling units, a portion of which structure may be used for non-residential purposes, and interest thereon shall not exceed the usury rate established pursuant to R.S. 31:1-1 at any time during the term of the mortgage.
L.1979, c. 139, s. 3, eff. July 6, 1979.