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New Jersey Statutes, Title: 52, STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Chapter 27d: Establishment
Section: 52:27d-130.8: Adoption of ordinance requiring replacement for performance guarantee.
6. The governing body of a municipality may adopt an ordinance requiring a successor developer to furnish a performance guarantee as a replacement for a performance guarantee that was previously accepted in accordance with standards adopted by ordinance and regulations adopted pursuant to section 1 of P.L.1999, c.68 (C.40:55D-53a) and section 41 of P.L.1975, c.291 (C.40:55D-53) for the purpose of assuring the installation and maintenance of on-tract improvements, and releasing the predecessor obligor and surety, if any, from liability pursuant to its performance guarantee.
L.2013, c.123, s.6.
This section added to the Rutgers Database: 2016-01-04 11:44:59.
Older versions of 52:27d-130.8 (if available):
Court decisions that cite this statute:
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