New Jersey § 17:3b-39
Full text of New Jersey New Jersey Statutes § 17:3b-39, with citation guidance and answers to common questions.
§ 17:3b-39.
If the agreement governing a revolving credit plan so provides, a bank may impose,
as interest, a late or delinquency charge upon any outstanding unpaid installment
payments or portions thereof under the plan which are in default, except that: no
more than one late or delinquency charge may be imposed with respect to any single
installment payment or portion thereof regardless of the period during which it remains
in default; and for the purpose only of the preceding proviso, all payments by the
borrower shall be deemed to be applied to the satisfaction of installment payments
in the order in which they become due. Nothing contained in this section shall limit, restrict or otherwise affect the
right of the bank pursuant to section 5 of this act to change the periodic percentage
rate or rates of interest applicable to the revolving credit plan between the bank
and a borrower upon the occurrence of a delinquency or default or other failure of
the borrower to perform in accordance with the terms of the plan.
Frequently Asked Questions About New Jersey § 17:3b-39
What does New Jersey Statutes § 17:3b-39 cover?
Section 17:3b-39 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-39?
A common citation format is "New Jersey Statutes § 17:3b-39" (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-39 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.