N.J. Stat. § 40:14B-75
Current through L. 2024, c. 87.
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.
N.J.S. § 40:14B-75