New Jersey § 46:3b-8
Full text of New Jersey New Jersey Statutes § 46:3b-8, with citation guidance and answers to common questions.
§ 46:3b-8.
The commissioner is authorized and directed to review and approve alternate new home
warranty security programs which provide for payment of claims against builders for
defects covered under the new home warranty and financial security adequate to cover
the total amount of claims that may be reasonably anticipated against participating
builders at least equivalent to that provided by the new home warranty security fund. However, any new home warranty insurance program approved by the Commissioner of
Insurance prior to the adoption of this act shall: (1) Constitute an approved alternate
new home warranty security program and shall be deemed in accordance with this section
and in compliance with this act in the form and substance heretofore approved by the
Commissioner of Insurance, (2) not be subject to any rules and regulations adopted
by the Commissioner of the Department of Community Affairs pursuant to this act when
such rules and regulations are in conflict with said previously approved new home
warranty program. Any person desiring approval of a new home warranty security program shall make
application to the commissioner in such form and manner as he shall prescribe. He may establish and charge reasonable fees to cover the costs incurred in reviewing
and approving such applications. The commissioner shall review each application and conduct any investigation he
deems necessary with respect to an application. The commissioner may, and if an applicant so requests, he shall, hold a hearing
on an application in accordance with the provisions of the Administrative Procedures
Act (P.L.1968, c. 410, C. 52:14B-1 et seq. ) applicable to contested cases. If the commissioner finds that a new home warranty security program provides coverage
and financial security at least equivalent to the new home warranty security fund,
he shall approve the program. The commissioner may revoke or suspend the approval for such a program after a hearing
in accordance with the same procedures applicable to hearings on applications if he
finds that the program no longer provides coverage and financial security equivalent
to the new home warranty security fund.
Frequently Asked Questions About New Jersey § 46:3b-8
What does New Jersey Statutes § 46:3b-8 cover?
Section 46:3b-8 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 § 46:3b-8?
A common citation format is "New Jersey Statutes § 46:3b-8" (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 § 46:3b-8 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.