N.J. Admin. Code § 3:42-7.2

Current through Register Vol. 56, No. 23, December 2, 2024

Section 3:42-7.2 - Notifications of upcoming sales

(a) All sales of Bank-owned Pinelands Development Credits shall be held only after due notice has been given by the Executive Director at least 10 business days prior to the date of the sale.

(b) At a minimum, the Executive Director shall:

1. Have notices of the sale published in at least four newspapers; and

2. Transmit notices to every person who has submitted to the Bank a written request to be informed of upcoming sales.

(c) The notice shall contain, but not necessarily be limited to, the following information:

1. The method by which the sales shall be conducted;

2. The date, time and location for the auction or bid opening;

3. The number of Pinelands Development Credits available for sale;

4. The minimum acceptable bid and deposit;

5. The date, time and location when the sales must be completed;

6. A summary of the rules governing the sale and the terms and conditions of the sale; and

7. How an interested person can obtain a complete set of instructions for, and the terms and conditions of, the sale.

N.J. Admin. Code § 3:42-7.2