New Jersey Administrative Code
Title 3 - BANKING
Chapter 1 - GENERAL PROVISIONS
Subchapter 14 - REVOLVING CREDIT EQUITY LOANS
Section 3:1-14.3 - Terms of agreement

1. The bank, savings bank or savings and loan association may at any time change the terms of the agreement, including the terms governing the periodic interest rate, the calculation of interest, or the method of computing the required amount of periodic installment payments, provided however, that the period interest rate shall not be changed more than once in each billing cycle nor shall the minimum installment payment be less than 1/240 of the outstanding principal balance due plus interest accrued at the end of the billing cycle.

2. The bank, savings bank or savings and loan association may apply any changes made pursuant to (a)1 above to all then outstanding unpaid indebtedness in the borrower's account including any indebtedness which shall have arisen from advances obtained prior to the effective date of the change of the periodic interest rates or required minimum periodic installment.