New Jersey § 40:14B-75 Maintenance, performance guarantee; cash requirement

New Jersey Statutes

§ 40:14B-75 — Maintenance, performance guarantee; cash requirement

New Jersey § 40:14B-75

Title 40MUNICIPALITIES AND COUNTIES

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Bluebook

N.J. Stat. Ann. § 40:14B-75 (2026).

Text

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.

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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.