38:23B-23 - Loans to minor veterans
38:23B-23.Ā Loans to minor veterans
Any contract, promissory note or other written obligation, pledge, mortgageĀ or conveyance, made or endorsed or joined in by any person over eighteen yearsĀ of age, for himself or as husband or wife of any other person or in any otherĀ capacity, and under twenty-one years of age, to any person, firm, associationĀ or corporation or to any governmental agency or corporation, either State orĀ Federal, to repay, or secure payment of, a veteran's loan under the provisionsĀ of Title III, Public Law 346, Seventy-eighth Congress of the United StatesĀ (Chapter 268-2d Session) approved June twenty-second, one thousand nine hundredĀ and forty-four, known as theĀ "Servicemen's Readjustment Act of 1944,"Ā orĀ under the provisions of Titles I or II of the Bankhead-Jones Farm Tenant Act, 7 U.S.C. 1000 to 1029, Public Law 210, Seventy-fifth Congress of the United States, approved July twenty-second, one thousand nine hundred and thirty-seven, as amended by the Farmers' Home Administration Act of 1946, Public Law 731, Seventy-ninth Congress of the United States, approved August fourteenth, one thousand nine hundred and forty-six, or other similar FederalĀ legislation, and of any act amendatory thereof or supplemental thereto, orĀ under the provisions ofĀ "An act to provide for guaranteed or insured bankĀ loans to certain war veterans for the purposes of establishing orĀ re-establishing themselves in small businesses or professions, and of enablingĀ them to purchase household furnishings and household appliances required by them for use in their homes, and providing appropriations therefor,"Ā approvedĀ April fourteenth, one thousand nine hundred and forty-four (P.L.1944, c. 126)Ā as said title was amended by chapter one hundred twenty-one of the laws of oneĀ thousand nine hundred and forty-six, and of any act amendatory thereof orĀ supplemental thereto, or payment whereof is guaranteed or insured by any suchĀ governmental agency or corporation as such a veteran's loan or which forms partĀ of the same transaction as the making of such veteran's loan, shall,Ā notwithstanding any provisions of law to the contrary, be as valid and bindingĀ as if said person were, at the time of making and executing or endorsing orĀ joining in the same, of the age of twenty-one years and may be enforced in anyĀ action or proceeding by and against such person in his or her own name andĀ shall be valid without the consent thereto of the parent or guardian of such person; and such person shall not disaffirm such instrument because of his orĀ her age, nor shall any such person hereafter interpose the defense that he orĀ she is, or was at the time of making and executing or endorsing or joining in such instrument, a minor, in any action or proceeding arising out of any such veteran's loan.
L.1946, c. 134, p. 620, s. 1.Ā Amended by L.1947, c. 189, p. 835, s. 2, eff. May 23, 1947.
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Any contract, promissory note or other written obligation, pledge, mortgageĀ or conveyance, made or endorsed or joined in by any person over eighteen yearsĀ of age, for himself or as husband or wife of any other person or in any otherĀ capacity, and under twenty-one years of age, to any person, firm, associationĀ or corporation or to any governmental agency or corporation, either State orĀ Federal, to repay, or secure payment of, a veteran's loan under the provisionsĀ of Title III, Public Law 346, Seventy-eighth Congress of the United StatesĀ (Chapter 268-2d Session) approved June twenty-second, one thousand nine hundredĀ and forty-four, known as theĀ "Servicemen's Readjustment Act of 1944,"Ā orĀ under the provisions of Titles I or II of the Bankhead-Jones Farm Tenant Act, 7 U.S.C. 1000 to 1029, Public Law 210, Seventy-fifth Congress of the United States, approved July twenty-second, one thousand nine hundred and thirty-seven, as amended by the Farmers' Home Administration Act of 1946, Public Law 731, Seventy-ninth Congress of the United States, approved August fourteenth, one thousand nine hundred and forty-six, or other similar FederalĀ legislation, and of any act amendatory thereof or supplemental thereto, orĀ under the provisions ofĀ "An act to provide for guaranteed or insured bankĀ loans to certain war veterans for the purposes of establishing orĀ re-establishing themselves in small businesses or professions, and of enablingĀ them to purchase household furnishings and household appliances required by them for use in their homes, and providing appropriations therefor,"Ā approvedĀ April fourteenth, one thousand nine hundred and forty-four (P.L.1944, c. 126)Ā as said title was amended by chapter one hundred twenty-one of the laws of oneĀ thousand nine hundred and forty-six, and of any act amendatory thereof orĀ supplemental thereto, or payment whereof is guaranteed or insured by any suchĀ governmental agency or corporation as such a veteran's loan or which forms partĀ of the same transaction as the making of such veteran's loan, shall,Ā notwithstanding any provisions of law to the contrary, be as valid and bindingĀ as if said person were, at the time of making and executing or endorsing orĀ joining in the same, of the age of twenty-one years and may be enforced in anyĀ action or proceeding by and against such person in his or her own name andĀ shall be valid without the consent thereto of the parent or guardian of such person; and such person shall not disaffirm such instrument because of his orĀ her age, nor shall any such person hereafter interpose the defense that he orĀ she is, or was at the time of making and executing or endorsing or joining in such instrument, a minor, in any action or proceeding arising out of any such veteran's loan.
L.1946, c. 134, p. 620, s. 1.Ā Amended by L.1947, c. 189, p. 835, s. 2, eff. May 23, 1947.
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