New Jersey § 40a:5a-2
Full text of New Jersey New Jersey Statutes § 40a:5a-2, with citation guidance and answers to common questions.
§ 40a:5a-2.
The Legislature declares it to be in the public interest of the citizens of this State
to maintain, support, foster, and promote the financial integrity and stability of
local authorities in the State and of counties and municipalities served by these
local authorities, by providing for State review of project financing of local authorities
and for State supervision over the financial operations of local authorities. The Legislature declares that it is the purpose and object of this act to implement
this policy by providing that the creation of a local authority be subject to Local
Finance Board approval, that project financing of a local authority be submitted to
the Local Finance Board for hearing and review, that annual budgets of a local authority
be submitted to the Division of Local Government Services in the Department of Community
Affairs for approval, that financial reports be prepared and submitted by a local
authority to the division in the form and at the time or times as shall be prescribed
by rule or regulation of the Local Finance Board or of the Director of the Division
of Local Government Services. In addition, the Local Finance Board may take remedial action to address an emergency
situation with respect to the financial condition and operation of a local authority
or to respond to an undue financial burden imposed by a local authority on residents
of the State, including the power to order the dissolution of a local authority if
it is in the public interest.
Frequently Asked Questions About New Jersey § 40a:5a-2
What does New Jersey Statutes § 40a:5a-2 cover?
Section 40a:5a-2 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 § 40a:5a-2?
A common citation format is "New Jersey Statutes § 40a:5a-2" (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 § 40a:5a-2 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.