{"data":{"id":"us-nj/n.j.-stat.-17-9a-59.40","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:9A-59.40","heading":"Loan to depositor in amount of and guaranteed by deposit","body":"Notwithstanding any other provision of law, a banking institution may contract with a depositor for the loan of money in an amount not to exceed such  depositor's deposit and secured by a pledge of such deposit, upon such terms  and conditions as may be mutually agreed upon between the banking institution  and such depositor;  provided, however, that the rate of interest charged with  respect to any such loan shall not exceed the maximum permitted under the  provisions of R.S. 31:1-1 or 2% in excess of the interest rate then paid with  respect to the deposit which secures such loan whichever is greater.\nL.1977, c. 64, s. 1, eff. April 18, 1977.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"c6f605567a18de48ac8ece376b2766c000f56e57a607e533ee351fceacd470f4","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-9a-59.39","next":"us-nj/n.j.-stat.-17-9a-60"},"notice":"GroundRules: Original legal text. Not legal advice."}