New Jersey § 58:11b-10
Full text of New Jersey New Jersey Statutes § 58:11b-10, with citation guidance and answers to common questions.
§ 58:11b-10.
a. There is established in the Community Hazard Assistance Mitigation Program Revolving
Loan Fund a special subaccount to be known as the Community Hazard Assistance Mitigation
Program Loan Origination Fee subaccount. The Community Hazard Assistance Mitigation Program Loan Origination Fee subaccount
shall be credited with: (1) moneys deposited into the subaccount as loan origination fees received by the
bank and paid by loan applicants for hazard mitigation and resilience projects; and (2) any interest paid on the amounts of the loan origination fees. b. Moneys in the Community Hazard Assistance Mitigation Program Loan Origination Fee
subaccount shall be drawn and used by the bank to reimburse the bank for administrative
and operating expenses incurred in administering the Community Hazard Assistance Mitigation
Program. The monies in the Community Hazard Assistance Mitigation Program Loan Origination
Fee subaccount shall also be available for application by the bank for loans to local
government units and nonprofit organizations for the cost of hazard mitigation and
resilience projects. Amounts in excess of the funds drawn by the bank from the subaccount established
pursuant to this section during any given fiscal year shall be carried forward into
the following fiscal year and held on deposit in the fund.
Frequently Asked Questions About New Jersey § 58:11b-10
What does New Jersey Statutes § 58:11b-10 cover?
Section 58:11b-10 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 § 58:11b-10?
A common citation format is "New Jersey Statutes § 58:11b-10" (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 § 58:11b-10 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.