New Jersey Administrative Code
Title 7 - ENVIRONMENTAL PROTECTION
Chapter 7 - COASTAL PERMIT PROGRAM RULES
Subchapter 17 - MITIGATION
Section 7:7-17.21 - Financial assurance; surety bond requirements

1. Be issued by an entity that is licensed by the New Jersey Department of Banking and Insurance to transact business in the State of New Jersey, or is listed as acceptable surety on Federal bonds in Circular 570 of the U.S. Department of the Treasury;

2. Include any applicable Department file number, and the name, street address, lot, block, municipality, and county of the mitigation site;

3. Specify that, if the issuer of the surety bond decides not to extend the surety bond beyond the then current expiration date, the issuer shall notify the person using the surety bond and the Department by certified mail of that decision at least 120 calendar days before the current expiration date, beginning from the date of receipt by the Department as shown on the signed return receipt; and

4. Specify that the Department may access the surety bond to pay for the cost of the mitigation project or mitigation bank, pursuant to 7:7-17.17(l).