54:5-19.2 Definitions relative to contracts for property tax lien management services. 1. As used in this act: 'Director' means the Director of the Division of Local Government Services in the Department of Community Affairs. 'Property' means parcels of land and their improvements on which the municipality holds a tax lien, or which were acquired by the municipality through the property tax foreclosure process, and including such parcels that the municipality possesses and for which it acts as a receiver pursuant to section 1 of P.L.1942, c.54 (C.54:5-53.1). 'Qualified municipality' means a municipality that is qualified to receive assistance under P.L.1978, c.14 (C.52:27D-178 et seq.), a municipality under the supervision of the Local Finance Board pursuant to the provisions of the 'Local Government Supervision Act (1947),' P.L.1947, c.151 (C.52:27BB-1 et seq.), a municipality that has issued qualified bonds pursuant to the provisions of the 'Municipal Qualified Bond Act,' P.L.1976, c.38 (C.40A:3-1 et seq.) or a municipality identified by the director to be facing serious fiscal distress. L.2001,c.266,s.1.
New Jersey Legal Code