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Section: Classification and arrangement; effect on construction

Statute: 46:10B-5

Any holder of a mortgage loan or agent acting on behalf of the holder of a mortgage loan who shall knowingly demand and receive prepayment fees, except as provided in this act, shall be liable to the mortgagor for the return of the whole amount of the prepayment fees so received, plus interest thereon from the date of such receipt at the rate of 6% per annum. L.1968, c. 54, s. 5, eff. June 6, 1968.

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