New Jersey § 17:11c-79
Full text of New Jersey New Jersey Statutes § 17:11c-79, with citation guidance and answers to common questions.
§ 17:11c-79.
No writing of any kind executed in connection with a secondary mortgage loan shall
contain: a. A power of attorney to confess judgment. b. An assignment of or order for the payment of any salary, wages, commissions or
any other compensation for services, or any part thereof, earned or to be earned. c. An agreement to pay any amount other than the unpaid balance of the promissory
note or loan agreement or any other charge authorized by this act. d. A provision relieving the residential mortgage lender or residential mortgage broker
from liability for any claim, or from any legal remedy, which the borrower may have
against the licensee under the terms of the promissory note or loan agreement. e. A provision whereby the borrower waives any right of action against the licensee,
a subsequent holder or any person acting on the licensee's or holder's behalf for
any illegal act committed in the collection of payments under the promissory note
or loan agreement. f. An acceleration clause under which the unpaid balance of the promissory note or
loan agreement not yet matured or any part thereof may be declared due and payable
because the licensee or subsequent holder deems himself to be insecure.
Frequently Asked Questions About New Jersey § 17:11c-79
What does New Jersey Statutes § 17:11c-79 cover?
Section 17:11c-79 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:11c-79?
A common citation format is "New Jersey Statutes § 17:11c-79" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:11c-79 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.