New Jersey § 17:9A-32 Recourse to security fund

New Jersey Statutes

§ 17:9A-32 — Recourse to security fund

New Jersey § 17:9A-32

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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Bluebook

N.J. Stat. Ann. § 17:9A-32 (2026).

Text

Recourse may be had to the fund created pursuant to section thirty-one upon application to the Superior Court, upon such notice as it shall direct, which shall include notice to the depositing bank, following the entry of a judgment against the bank for a breach of any fiduciary obligation or obligations to one or more persons for whose benefit the fund was deposited. The Superior Court shall make such order on such application as it shall deem proper and necessary to preserve the rights of all those for whose benefit the fund was deposited. L.1948, c. 67, p. 222, s.

32.Amended by L.1953, c. 17, p. 163, s. 17.

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Recourse may be had to the fund created pursuant to section thirty-one upon application to the Superior Court, upon such notice as it shall direct, which shall include notice to the depositing bank, following the entry of a judgment against the bank for a breach of any fiduciary obligation or obligations to one or more persons for whose benefit the fund was deposited. The Superior Court shall make such order on such application as it shall deem proper and necessary to preserve the rights of all those for whose benefit the fund was deposited. L.1948, c. 67, p. 222, s. 32. Amended by L.1953, c. 17, p. 163, s. 17.