N.J. Stat. § 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.