New Jersey § 34:1b-21
Full text of New Jersey New Jersey Statutes § 34:1b-21, with citation guidance and answers to common questions.
§ 34:1b-21.
Market Transition Facility bonds and notes issued by the authority shall be special
and limited obligations which are payable only from monies on deposit in the Facility
Revenue Fund. New Jersey Motor Vehicle Commission bonds and notes issued by the authority shall
be special and limited obligations which are payable only from monies on deposit in
the Facility Revenue Fund from and after such time as all Market Transition Facility
bonds, notes and obligations issued pursuant to section 4 of P.L.1994, c. 57 ( C.34:1B-21.4 ) and the costs thereof are discharged and no longer outstanding. Neither the members of the authority nor any other person executing the Market Transition
Facility bonds or notes or the New Jersey Motor Vehicle Commission bonds or notes provided for in section 4 of P.L.1994, c. 57, shall be liable personally with respect to payment of interest and principal on these
bonds or notes or obligations of the facility. Market Transition Facility bonds, notes, New Jersey Motor Vehicle Commission bonds or notes, or any other obligations issued pursuant to the provisions of P.L.1994, c. 57 ( C.34:1B-21.1 et seq. ), shall not be a debt or liability of the State or any agency or instrumentality thereof,
either legal, moral, or otherwise, and nothing contained in this act shall be construed
to authorize the authority to incur any indebtedness on behalf of or in any way to
obligate the State or any political subdivision, and all debt instruments issued by
the authority shall contain a statement to that effect on their face.
Source: official New Jersey text · Last verified 2026-08-27
Frequently Asked Questions About New Jersey § 34:1b-21
What does New Jersey Statutes § 34:1b-21 cover?
Section 34:1b-21 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 34:1b-21?
A common citation format is "New Jersey Statutes § 34:1b-21" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 34:1b-21 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.