N.J. Admin. Code § 7:19-5.11

Current through Register Vol. 56, No. 18, September 16, 2024

Section 7:19-5.11 - Acquisition costs

(a) If the parties have not agreed to acquisition costs, BPU's and the Department's designated representatives shall convene at least one meeting within 60 days of the issuance of the joint hearing report pursuant to 7:19-5.8(j) and again within 15 days after issuance of the joint order prepared pursuant to 7:19-5.10. Representatives of the Public Advocate, non-complying small water company and acquiring entity shall be notified of each meeting which will concern the possibility of mutual agreement on compensation for the acquisition and the other details pertaining to takeover of the non-complying small water company by the acquiring entity.

1. Meetings shall be continued if the Department and BPU determine in writing that a reasonable possibility of success for an agreement exists.

2. BPU and Departmental representatives shall certify in writing to the Department and BPU the status of these meetings every three months.

(b) If no agreement between parties exist, compensation for the acquisition of the non-complying small water company shall be determined through the use of the eminent domain procedures pursuant to the "Eminent Domain Act of 1971", 20:3-1.

N.J. Admin. Code § 7:19-5.11

Correction: "the Department's" substituted for "DEP's"; and "5.8(j)" substituted for "5.9(i)".
See: 17 New Jersey Register 1559(a).