New Jersey § 17:3b-6

§ 17:3b-6.

Any lender offering and extending credit under a revolving credit plan to a borrower

may charge and collect interest and charges and may take security as collateral in

connection therewith as hereinafter provided. Credit may be extended under a revolving credit plan by a lender's acquisition of

obligations arising out of the honoring by a merchant, a lender, whether chartered

or organized under the laws of this or any other state, the District of Columbia,

the United States or any district, territory or possession of the United States, or

any foreign country, or a government or governmental subdivision or agency of a credit

device made available to a borrower under a plan, whether directly or indirectly by

means of telephone, point of sale terminal, automated teller machine or other electronic

or similar device or through the mails.