N.J.S.A. 40:14B-75

Maintenance, performance guarantee; cash requirement

40:14B-75. Maintenance, performance guarantee; cash requirement 13. A municipal authority shall not require that a maintenance guarantee required pursuant to section 11 of P.L.1999, c.11 (C.40:14B-73) be in cash or that more than 10% of a performance guarantee pursuant to that section be in cash. A developer may, however, provide at his option some or all of a maintenance guarantee in cash, or more than 10% of a performance guarantee in cash. L.1999,c.11,s.13.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 40:14B-75, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.