38:23B-19 - Second loans
38:23B-19.Ā Second loans
For either one of the purposes set forth in section one of this act, no veteran shall accept more than one loan under the provisions of this act, regardless of the amount of such loan, except that a veteran who has received aĀ veteran's loan for less than the maximum amount of the loan to which he may beĀ entitled for such purpose under this act, and who is otherwise eligible for aĀ veteran's loan, may apply for and receive a second veteran's loan for suchĀ purpose.Ā In such application the veteran shall disclose that it is for aĀ second veteran's loan for such purpose, and the bank making such loan shall make certain that any unpaid portion of the first loan is paid in full, both asĀ to principal and interest, from the proceeds of such second veteran's loan.Ā InĀ no event shall any veteran receive more than four veterans' loans under theĀ provisions of this act, of which not more than two, totalling not more thanĀ three thousand dollars ($3,000.00), shall be for the purpose of establishing orĀ re-establishing himself in a business or profession, and not more than two,Ā totalling not more than one thousand dollars ($1,000.00) shall be for theĀ purpose of financing the purchase of specific household furnishings orĀ household appliances, or both, required by him for use in his home.
L.1944, c. 126, p. 349, s. 19.Ā Amended by L.1946, c. 121, p. 568, s. 17.
For either one of the purposes set forth in section one of this act, no veteran shall accept more than one loan under the provisions of this act, regardless of the amount of such loan, except that a veteran who has received aĀ veteran's loan for less than the maximum amount of the loan to which he may beĀ entitled for such purpose under this act, and who is otherwise eligible for aĀ veteran's loan, may apply for and receive a second veteran's loan for suchĀ purpose.Ā In such application the veteran shall disclose that it is for aĀ second veteran's loan for such purpose, and the bank making such loan shall make certain that any unpaid portion of the first loan is paid in full, both asĀ to principal and interest, from the proceeds of such second veteran's loan.Ā InĀ no event shall any veteran receive more than four veterans' loans under theĀ provisions of this act, of which not more than two, totalling not more thanĀ three thousand dollars ($3,000.00), shall be for the purpose of establishing orĀ re-establishing himself in a business or profession, and not more than two,Ā totalling not more than one thousand dollars ($1,000.00) shall be for theĀ purpose of financing the purchase of specific household furnishings orĀ household appliances, or both, required by him for use in his home.
L.1944, c. 126, p. 349, s. 19.Ā Amended by L.1946, c. 121, p. 568, s. 17.