The state Supreme Court on Wednesday cleared the way forstate or local governments to hire the counsel of their choice oncomplex bond issues, though the justices paid lip service to thedesirability of using local lawyers for more mundane matters.
Gutting a decision by one of its standing committees, theCourt concluded that it is not the unauthorized practice of lawfor an out-of-state bond firm to be hired by a New Jersey entityto serve as bond counsel, as long as it can be shown that thebond issue is deserving of the out-of-state firm’s specialexpertise.
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