New Jersey § 13:18a-38
Full text of New Jersey New Jersey Statutes § 13:18a-38, with citation guidance and answers to common questions.
§ 13:18a-38.
a. The board may extend a pinelands development credit guarantee with respect to any
loan secured pursuant to the provisions of this act if: (1) Adequate funds are available in reserve to fulfill the guarantee in the event
of a default; and (2) The applicant can demonstrate that he holds marketable title to the property and
that the property has been certified by the commission as eligible for issuance of
pinelands development credit certificates pursuant to the provisions of this act,
that the owner is legally empowered to restrict the use of the property in conformance
with the comprehensive management plan, that this credit has not been otherwise encumbered,
transferred or redeemed, and that the credit shall be pledged as security for the
guarantee. b. If the application is denied, the board shall return it to the applicant with a
written statement of the reasons for denial. c. If the application is approved, the board shall retain the original and transmit
copies of the application to the applicant and the lender. The applicant and the lender may then complete the transaction for the loan. Nothing herein contained shall be construed to require a lender to approve or deny
any loan applied for pursuant to this act, regardless of the approval or disapproval
by the board of any application for a pinelands development credit guarantee.
Frequently Asked Questions About New Jersey § 13:18a-38
What does New Jersey Statutes § 13:18a-38 cover?
Section 13:18a-38 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 § 13:18a-38?
A common citation format is "New Jersey Statutes § 13:18a-38" (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 § 13:18a-38 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.