How A 3237 changes current law

Exempts creditor from paying municipal property registration fee if property is subject to automatic stay under federal Bankruptcy Code. · New Jersey

How this bill changes current law

1 change

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This bill amends 1 section(s) of the New Jersey statutes: N.J.S.A. 40:48-2.12s3.

  • N.J.S.A. 40:48-2.12s3

    (1) (2) → (1) (a) (b) (2) A municipality shall not impose an annual fee on a creditor pursuant to paragraph (1) of this subsection if: (a) the subject property is included in a bankruptcy under chapter 7 of the federal Bankruptcy Code, 11 U.S.C. s.701 et seq., or chapter 13 of the federal Bankruptcy Code, 11 U.S.C. s.1301 et seq.; and (b) the automatic stay provided under subsection (a) of section 362 of the federal Bankruptcy Code (11 U.S.C. s.362(a)) has not been vacated.

    amended

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