N.J. Admin. Code § 7:22-5.14

Current through Register Vol. 56, No. 19, October 7, 2024

Section 7:22-5.14 - Waivers

(a) Upon the application of any Trust loan recipient or potential Trust loan recipient (the "applicant"), the Trust shall waive the application of any provision in this subchapter as applied to any Trust loan upon finding the following:

1. Unusual circumstance(s) beyond the control of the applicant has or will cause an adverse economic impact on the applicant;

2. The granting of the requested waiver would serve to alleviate the adverse economic impact of such unusual circumstance(s) on the applicant; and

3. The granting of the requested waiver is consistent with the purposes and objectives of the Trust Act, the Bond Act or other appropriations to the Trust for the purpose of providing financing to eligible projects, and any amendatory or supplementary acts thereto.

N.J. Admin. Code § 7:22-5.14

New Rule, R.1997 d.346, effective 8/18/1997.
See: 29 New Jersey Register 2207(a), 29 New Jersey Register 3723(a).