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Section 55:17-4 - Establishment and maintenance of financial records and data

NJ Rev Stat § 55:17-4 (2019) (N/A)
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55:17-4. Establishment and maintenance of financial records and data

The financial records and data in respect to the administration of the project after default or foreclosure shall be so established and maintained as to permit the application of the terms of the lease or financial arrangement in respect to the calculation of payments to be made to a governmental body or agency, as well as of limitations upon profits, earnings, dividends and the like, separately and apart from the business operations of the holder of the mortgage loans arising from other transactions than the project itself.

L.1967, c. 304, s. 4, eff. Feb. 15, 1968.

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Section 55:17-3 - Project and financial records equivalent to person or entity entering into lease or financial arrangement for continuation purposes; administration of project arrangements; summary proceedings
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Section 55:17-5 - Nature, identity or status of person with whom lease or financial agreement may be made