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Code · New Jersey · Title 52 — Savings and Loan Associations [Repealed] · Chapter 27D

52:27D-376. Reduction of grants

58 words·~1 min read·/nj/title-52/chapter-27d/52-27d-376

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

If in any fiscal year the total amount of grant applications received by the department exceeds the total amount of the fund, the commissioner shall reduce each qualifying applicant's grant on a pro rata basis in order to not exceed the total dollar amount of the fund appropriated for that fiscal year.
L. 1987, c. 50, s. 11.
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