New Jersey § 45:22a-35

§ 45:22a-35.

a. The agency shall adopt, amend, or repeal such rules and regulations as are reasonably

necessary for the enforcement of the provisions of this act in accordance with the

provisions of the Administrative Procedure Act, P.L.1968, c. 410 ( C. 52:14B-1 et seq. ). The rules may provide for, but are not limited to: provisions for advertising standards

to insure full and fair disclosure; disclosure provisions relating to conversions;

provisions relating to nonbinding reservation agreements; provisions for adequate

bonding or access to some escrow or trust fund not otherwise required by the municipal

governing body to be located within this State, so as to insure compliance with the

provisions of this act, and to compensate purchasers for failure of the registrant

to perform in accordance with the terms of any contract or public statement; provisions

that require a registrant to deposit purchaser down payments, security deposits or

other funds in an escrow account, or with an attorney licensed to practice law in

this State, until such time as the agency by its rules and regulations deems it appropriate

to permit such funds to be released; provisions to insure that all contracts between

developer and purchaser are fair and reasonable; provisions that the developer must

give a fair and reasonable warranty on construction of any improvements; provisions

that the budget for the operation and maintenance of the common or shared elements

or interests shall provide for adequate reserves for depreciation and replacement

of the improvements; provisions for operating procedures; and such other rules and

regulations as are necessary and proper to effectuate the purposes of this act, and

taking into account and providing for, the broad range of development plans and devises,

management mechanisms, and methods of ownership, permitted under the provisions of

this act. b. If it appears that a person has engaged, or is about to engage, in an act or practice

constituting a violation of a provision of this act, or a rule or order hereunder,

the agency, with or without prior administrative proceedings, may bring an action

in the Superior Court to enjoin the acts or practices and to enforce compliance with

this act or any rule or order hereunder. Upon proper showing, injunctive relief or temporary restraining orders shall be

granted, and a receiver may be appointed. The agency shall not be required to post a bond in any court proceeding. c. The agency may intervene in a suit involving any planned real estate development. In any such suit, by or against the developer, the developer shall promptly furnish

the agency with notice of the suit and copies of all pleadings.