State Codes and Statutes

Statutes > New-jersey > Title-2a > Section-2a-50 > 2a-50-11

2A:50-11.  Penal sum of bond may be expressed in sum of debt;  recovery for  true amount
    Whenever a bond secured by a mortgage shall be given for the same debt, the  penal sum of the bond may be expressed in the sum of the debt instead of in a  sum double the amount of the debt.  In any action upon such bond, recovery may  be had for the true amount due including the debt, interest, charges, advances,  costs, and any other obligation, secured and evidenced by the terms and  conditions of the bond and mortgage, in the same manner and to the same effect  as though the penal sum expressed in the bond was double the amount of the  debt.
 
L.1951 (1st SS), c.344.