N.J. Admin. Code § 5:26-2.11

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

Section 5:26-2.11 - Order of revocation

(a) The Agency may revoke a registration after notice and upon finding of fact that the developer has:

1. Failed to comply with the terms of a cease and desist order;

2. Been convicted, subsequent to the filing of the application for registration, in any court, of a crime involving fraud, deception, false pretenses, misrepresentations, false advertising, dishonest dealing or other like offenses;

3. Disposed of, concealed or diverted any funds or assets of any person so as to defeat the rights of purchasers;

4. Failed faithfully to perform any stipulation or agreement made with the Agency as an inducement to grant or reinstate any registration, to approve any promotional plan or public offering statement, or to rescind or modify any order or rule issued by the Agency.

5. Advertised the planned real estate development or retirement community, or responded to applications for the planned real estate development or retirement community, in a manner which was discriminatory on the basis of marital status, sex, race, color, creed, religious principles, national origin, ancestry, affectional or sexual orientation, or on any other basis that may be prohibited under the Law Against Discrimination (10:5-1 et seq.);

6. Willfully violated any provision of the Act or of these regulations; or

7. Made an intentional misrepresentation or concealed a material fact in an application for registration.

(b) The Agency may, after compliance with the notice requirements of (a) above, and finding of fact that a violation for which revocation could be ordered has occurred, issue a cease and desist order in lieu of an order of revocation.

(c) A developer to whom a notice of revocation or a cease and desist order is issued shall have the right to contest the notice or order in an administrative hearing, in accordance with 5:26-11.3.

N.J. Admin. Code § 5:26-2.11

Amended by R.1990 d.452, effective 9/4/1990.
See: 22 N.J.R. 1702(a), 22 N.J.R. 2682(b).
References to the APA and UAPR added at (a).
Amended by R.1996 d.94, effective 2/20/1996.
See: 27 N.J.R. 4478(a), 28 N.J.R. 1226(a).
In (a) 5 added color, religious principles, ancestry, affectional or sexual orientation, or any other basis prohibited, and added (c).