New Jersey Statutes 58:28-3. Contracts exempt from certain regulation
Terms Used In New Jersey Statutes 58:28-3
- Contract: A legal written agreement that becomes binding when signed.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Oversight: Committee review of the activities of a Federal agency or program.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
b. Any transaction undertaken by a partnership or copartnership established pursuant to a contract authorized under section 2 of P.L.1993, c.381 (C. 58:28-2) shall be subject to oversight and approval of the Department of Environmental Protection, and shall be subject to the permit system established pursuant to the “Water Supply Management Act,” P.L.1981, c.262 (C. 58:1A-1 et al.), except that any proposed modification to the existing water allocation permit of a water supply facility, relating to the transaction, that would authorize the transfer to a municipality of up to one-third of the quantity of water allocated by the existing permit shall be deemed to be automatically approved pursuant to the “Water Supply Management Act,” P.L.1981, c.262 (C. 58:1A-1 et al.).
c. Any agreement entered into by a partnership or copartnership established pursuant to section 2 of P.L.1993, c.381 (C. 58:28-2) shall not be subject to the provisions of the “New Jersey Water Supply Privatization Act,” P.L.1985, c.37 (C. 58:26-1 et seq.).
L.1993, c.381, s.3.