New Jersey § 52:31c-6
Full text of New Jersey New Jersey Statutes § 52:31c-6, with citation guidance and answers to common questions.
§ 52:31c-6.
a. Prior to entering into a structured financing transaction, the State Treasurer
shall transmit to the Joint Budget Oversight Committee, or its successor, a preliminary
report that a decision to enter a structured financing transaction has been made,
reciting the basis on which the decision was made, including an estimate of the State
receipt and net receipt related to the transaction upon which the State Treasurer
relied when making the decision to enter into a structured financing transaction. b. The Joint Budget Oversight Committee, or its successor, shall have authority to
approve or disapprove of the structured financing transaction as included in each
preliminary report submitted in accordance with subsection a. of this section. The committee shall approve or disapprove the transaction within 10 business days
after physical receipt of the report. The committee shall notify the State Treasurer in writing of the approval or disapproval
as expeditiously as possible. c. No structured financing transaction shall be entered into unless the preliminary
report has been submitted to and approved by the Joint Budget Oversight Committee,
or its successor, as set forth in subsection b. of this section. d. The State Treasurer shall, within 60 days after completing a structured financing
agreement, submit a final report prepared pursuant to this section to the Joint Budget
Oversight Committee and a copy of the final report to the Director of the Division
of Budget and Accounting in the Department of the Treasury. e. A final report for a structured financing agreement shall include a detailed explanation
of the terms of the structured financing agreement including, but not limited to,
the investor's obligations, the State assets, the amount of the State receipt, transaction
charges and service agreements entered into as part of the structured financing transaction
and the names of the parties to those agreements and those persons providing the services
of counsel, financial advisors, payment bank, rating agencies, trustee, credit enhancement,
liquidity facility; and the fees charged for those services.
Frequently Asked Questions About New Jersey § 52:31c-6
What does New Jersey Statutes § 52:31c-6 cover?
Section 52:31c-6 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 § 52:31c-6?
A common citation format is "New Jersey Statutes § 52:31c-6" (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 § 52:31c-6 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.