N.J. Admin. Code § 7:50-6.48

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

Section 7:50-6.48 - Guidelines and requirements for financial sureties

(a) Municipalities may require the posting of financial sureties for harvesting activities, provided that:

1. The surety shall be for the sole purpose of ensuring proper performance during the harvesting operation and shall not be intended to serve as a long-term maintenance guarantee;

2. The surety shall not exceed $ 500.00 or 10 percent of the stumpage value of the wood to be harvested during the duration of any approval which is granted, whichever is greater; and

3. The surety shall not be required to be posted for a period exceeding two years. Nothing in this section shall be construed to prohibit a municipality from requiring the posting of sureties for succeeding two year periods, provided the requirements of this section are met.

N.J. Admin. Code § 7:50-6.48

New Rule, R.1996 d.225, effective 5/20/1996.
See: 27 N.J.R. 3878(a), 28 N.J.R. 2596(a).
Recodified from N.J.A.C. 7:50-6.47 by R.2010 d.029, effective 3/1/2010.
See: 41 N.J.R. 2402(a), 42 N.J.R. 629(a).
Section was "(Reserved)".