New Jersey § 40A:11-16.2 Partial payments; deposit bonds.

New Jersey Statutes

§ 40A:11-16.2 — Partial payments; deposit bonds.

New Jersey § 40A:11-16.2

Title 40AMUNICIPALITIES AND COUNTIES

This text of New Jersey § 40A:11-16.2 (Partial payments; deposit bonds.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 40A:11-16.2 (2026).

Text

1.Any contract, the total price of which exceeds $100,000.00, entered into by a contracting unit involving the construction, reconstruction, alteration, repair or maintenance of any building, structure, facility or other improvement to real property, shall provide for partial payments to be made at least once each month as the work progresses, unless the contractor shall agree to deposit bonds with the contracting unit pursuant to P.L.1979, c.152 (C.40A:11-16.1). L.1979,c.464,s.1; amended 1999, c.440, s.25.

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1. Any contract, the total price of which exceeds $100,000.00, entered into by a contracting unit involving the construction, reconstruction, alteration, repair or maintenance of any building, structure, facility or other improvement to real property, shall provide for partial payments to be made at least once each month as the work progresses, unless the contractor shall agree to deposit bonds with the contracting unit pursuant to P.L.1979, c.152 (C.40A:11-16.1). L.1979,c.464,s.1; amended 1999, c.440, s.25.