New Jersey Administrative Code
Title 3 - BANKING
Chapter 42 - PINELANDS DEVELOPMENT CREDIT BANK
Subchapter 1 - GENERAL PROVISIONS
Section 3:42-1.8 - Duties and powers of the Executive Director
Universal Citation: NJ Admin Code 3:42-1.8
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The Executive Director shall be the chief administrative officer of the Board and, subject to the approval of his actions by the Board as provided herein, shall be responsible for the administration and enforcement of these rules. In order to effectively implement these rules, the Executive Director shall exercise the following duties and powers:
1.
Administrative Procedures: The Executive Director shall, consistent with the
express standards, purposes and intent of these rules, establish administrative
procedures and forms as are necessary to the effective administration and
enforcement of these rules and the procedures of the Board.
2. Pinelands Development Credit Certificates:
The Executive Director shall, consistent with the express standards, purposes,
and intent of these rules, issue Pinelands Development Credit
Certificates.
3. Records: The
Executive Director shall maintain:
i. Current
and permanent records of the Bank including a registry of all Pinelands
Development Credit Certificates issued, sold, conveyed, transferred,
encumbered, retired and redeemed; and
ii. A current and permanent record of the
Bank pertaining to Pinelands Development Credits the Bank purchases, credit
guarantees extended by the Bank and authorities delegated and grants provided
to counties.
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