New Jersey § 17:3b-12
Full text of New Jersey New Jersey Statutes § 17:3b-12, with citation guidance and answers to common questions.
§ 17:3b-12.
If the agreement governing the revolving credit plan so provides, a lender may: a. Take personal or real property , or both, as security on a loan made under a revolving credit plan; b. Require that any property securing the loan be insured for the benefit of the lender
against loss or damage of the security, and retain out of the proceeds of the loan
the premium for the insurance; c. Require that all taxes, assessments and other governmental charges against property securing the loan be paid when due and that the security be maintained free
of all executions, levies, encumbrances, and other charges which may adversely affect
the value of the lender's interest in the security ; d. Charge and collect fees and charges, in addition to interest and fees and charges
specifically permitted by P.L.1985, c. 81 ( C. 17:3B-4 et seq. ), in amounts as provided in the agreement or as established in the manner the agreement
provides, such as, but not limited to, minimum charges, annual fees, check charges,
maintenance charges, and late charges, except as may be specifically limited by P.L.1985,
c. 81 ( C. 17:3B-4 et seq. ); e. On a secured loan, charge and collect the actual costs of filing or recording the
instrument of security, or notice or abstract thereof, if the filing or recording
is authorized by law.
Frequently Asked Questions About New Jersey § 17:3b-12
What does New Jersey Statutes § 17:3b-12 cover?
Section 17:3b-12 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 § 17:3b-12?
A common citation format is "New Jersey Statutes § 17:3b-12" (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 § 17:3b-12 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.