New Jersey § 15A:14-9 Payment or delivery to corporation

New Jersey Statutes

§ 15A:14-9 — Payment or delivery to corporation

New Jersey § 15A:14-9

Title 15ACORPORATIONS, NONPROFIT

This text of New Jersey § 15A:14-9 (Payment or delivery to corporation) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 15A:14-9 (2026).

Text

a.After the commencement of a receivership action, but before the appointment of a receiver, a debtor of the corporation may make payment to the corporation of the debt, and a person holding property of the corporation may deliver it to the corporation, and the payment and the delivery shall have the same effect as if the receivership action were not pending.

b.If the payment or the delivery is made after the appointment of a receiver by a person acting in good faith the payment and the delivery shall have the same effect as if a receiver had not been appointed. L.1983, c. 127, s. 15A:14-9, eff. Oct. 1, 1983.

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a. After the commencement of a receivership action, but before the appointment of a receiver, a debtor of the corporation may make payment to the corporation of the debt, and a person holding property of the corporation may deliver it to the corporation, and the payment and the delivery shall have the same effect as if the receivership action were not pending. b. If the payment or the delivery is made after the appointment of a receiver by a person acting in good faith the payment and the delivery shall have the same effect as if a receiver had not been appointed. L.1983, c. 127, s. 15A:14-9, eff. Oct. 1, 1983.