New Jersey Statutes 46:10B-44. Creditor’s failure to fulfill obligation
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Terms Used In New Jersey Statutes 46:10B-44
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
9. Failure of a creditor to fulfill any obligation under this act shall not be considered to be the exercise of a power, right, benefit, or privilege under the parity provisions of P.L.1981, c.163 (C. 17:9A-24b1), section 48 of P.L.1963, c.144 (C. 17:12B-48), or section 12 of P.L.1984, c.171 (C. 17:13-90), and it shall not be a defense to a violation of this act that the failure to fulfill any provision of the act is an exercise of such a power, right, benefit, or privilege.
L.2008, c.86, s.9.