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New Jersey Statutes, Title: 40, MUNICIPALITIES AND COUNTIES
Chapter 55d:
Section: 40:55d-53.3: Maintenance, performance guarantees
14. A municipality shall not require that a maintenance guarantee required pursuant to section 41 of P.L.1975, c.291 (C.40:55D-53) 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.1991,c.256,s.14.
This section added to the Rutgers Database: 2012-09-26 13:37:52.
Older versions of 40:55d-53.3 (if available):
Court decisions that cite this statute:
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