Payments by bank to authority for guaranty or insurance
38:23B-14.6. Payments by bank to authority for guaranty or insurance
Every bank which has made or which may hereafter make any approved veteran's loan or loans shall, in consideration of the guaranty or insurance, as herein provided, pay to the authority an amount equal to ten per centum (10%) of all interest received by it on all such loans, to be payable at such time or times and in such manner as the authority may prescribe.
L.1945, c. 185, p. 629, s. 12.
This is the verbatim text of N.J.S.A. 38:23B-14.6, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.