N.J. Admin. Code § 3:42-3.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 3:42-3.1 - Applicability

(a) No person shall sell, transfer, convey or encumber any Pinelands Development Credits or any interest therein without first obtaining a Pinelands Development Credit Certificate from the Bank.

(b) Within 10 business days following the sale, transfer, conveyance or encumbrance of a Pinelands Development Credit or any interest therein, the person acquiring such Pinelands Development Credit or interest therein shall notify the Executive Director of his ownership or interest in the Pinelands Development Credit and the Executive Director shall re-issue a Pinelands Development Credit Certificate pursuant to the provisions of 3:42-3.4.

(c) Within 10 business days of the redemption of any Pinelands Development Credit, the person redeeming such Pinelands Development Credit shall notify the Executive Director of said redemption pursuant to the provisions of 3:42-3.6.

N.J. Admin. Code § 3:42-3.1