N.J. Stat. § 34:1B-40
This is the official text of N.J. Stat. § 34:1B-40, part of New Jersey’s Stat — part of the compiled statutory law of New Jersey, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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Form, amount and terms of financial assistance; repayment
Official statutory text
Financial assistance provided from the fund shall include, but not be limited to, loans, loan guarantees, grants, secondary mortgages and equity participation. The form, amount and terms of financial assistance provided shall be determined by the commissioner, subject to the availability of funds and requirements of this act. No more than 20% of the total financial assistance provided from the fund shall be in the form of grants or other nonlending assistance. Lending assistance from the fund shall be made on a revolving loan basis in order to assure the continued reutilization of the fund's resources. Any financial assistance provided from the fund to a participant through a sponsor shall be repaid to the fund by the participant on such terms as the commissioner shall determine. L.1983, c. 190, s. 5, eff. May 23, 1983.
Status: in_force · Read it on the official government site
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