New Jersey § 40a:5a-21
Full text of New Jersey New Jersey Statutes § 40a:5a-21, with citation guidance and answers to common questions.
§ 40a:5a-21.
The Local Finance Board may order the dissolution of a local authority if, after holding
a hearing consistent with section 18 of this act, 1 it determines that, due to financial difficulties or mismanagement, the dissolution
of an authority will be in the public interest and will serve the health, welfare,
or convenience of the inhabitants of the local unit or units, and the dissolution
will achieve a more efficient means for providing and financing local public facilities,
except that an order dissolving an authority shall assure adequate provision in accordance
with a bond resolution or otherwise for all creditors or obligees of the authority. Any order so adopted by the Local Finance Board to provide for the dissolution of
an authority shall take effect only upon its approval by the Commissioner of the Department
of Community Affairs, the State Treasurer and the Attorney General. Upon approval, the order shall be immediately transmitted to the authority, to the
clerk of the governing body of the local unit or units, and to the Secretary of State. 1
N.J.S.A. § 40A:5A-18.
Frequently Asked Questions About New Jersey § 40a:5a-21
What does New Jersey Statutes § 40a:5a-21 cover?
Section 40a:5a-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 § 40a:5a-21?
A common citation format is "New Jersey Statutes § 40a:5a-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 § 40a:5a-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.