New Jersey § 17:9a-59
Full text of New Jersey New Jersey Statutes § 17:9a-59, with citation guidance and answers to common questions.
§ 17:9a-59.
A. Subject to the provisions of this act, a bank may lend money to a borrower by advancing
funds to or for the account of the borrower pursuant to the borrower's written authorizations. Such authorizations may take the form of checks drawn on the bank by the borrower,
notwithstanding that the borrower has no funds, or has insufficient funds on deposit
in the bank out of which such checks may be paid, may take the form of credit card agreements or they may take such other form as the bank and the borrower agree upon. Loans made pursuant to this act are referred to in this act as “advance loans” and
persons to whom advance loans are made are referred to as “advance loan borrowers.”
Accounting periods, referred to in this act as “billing cycles,” shall not vary more
than four days from one month in duration and the billing date shall not vary more
than four days from the billing date of the immediately preceding billing cycle. The term “monthly” shall refer in this act to the billing cycle and need not refer
to a calendar month. B. Nothing in this act shall apply to loans otherwise authorized by law or enforceable
at law , and except for the provisions of the criminal usury law, N.J.S. 2C:21-19 , the provisions of any other loan or credit law of this State with respect to limitations
on interest rate, charges, costs, fees, term of loan or collateral shall not apply
to loans made hereunder . C. A borrower may at any time prepay in part or in full the amount owing on advance
loans, without penalty or prepayment charge.
Frequently Asked Questions About New Jersey § 17:9a-59
What does New Jersey Statutes § 17:9a-59 cover?
Section 17:9a-59 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 § 17:9a-59?
A common citation format is "New Jersey Statutes § 17:9a-59" (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 § 17:9a-59 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.