13:18A-39 - $10,000 guarantee minimum - New Jersey Statutes

13:18A-39.   $10,000 guarantee minimum
    The bank is authorized to guarantee the value of a pinelands development credit in an amount not less than $10,000.00, or a fraction of that amount which reflects that portion of a pinelands development credit allocated to the applicant pursuant to the provisions of the comprehensive management plan, provided that the value upon which the guarantee is made may be adjusted in accordance with the provisions of section 5 of this act. Nothing herein contained shall be construed to establish or limit fair market value of any pinelands development credit or to preclude the extension of a pinelands development credit guarantee for any loan of less than $10,000.00.

   L. 1985, c. 310, s. 10, eff. Aug. 28, 1985.