New Jersey § 25:2-21 Definitions:  A to H.

New Jersey Statutes

§ 25:2-21 — Definitions: A to H.

New Jersey § 25:2-21

Title 25FRAUDS AND FRAUDULENT CONVEYANCES

This text of New Jersey § 25:2-21 (Definitions: A to H.) 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. § 25:2-21 (2026).

Text

25:2-21. Definitions: A to H. As used in this article: "Affiliate" means: a. A person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

(1)As a fiduciary or agent without sole discretionary power to vote the securities; or (2) Solely to secure a debt, if the person has not in fact exercised the power to vote; b. A corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities:

(1)As

Free access — add to your briefcase to read the full text and ask questions with AI

25:2-21. Definitions: A to H. As used in this article: "Affiliate" means: a. A person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities: (1) As a fiduciary or agent without sole discretionary power to vote the securities; or (2) Solely to secure a debt, if the person has not in fact exercised the power to vote; b. A corporation 20% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor or a person who directly or indirectly owns, controls, or holds with power to vote, 20% or more of the outstanding voting securities of the debtor, other than a person who holds the securities: (1) As a fiduciary or agent without sole discretionary power to vote the securities; or (2) Solely to secure a debt, if the person has not in fact exercised the power to vote; c. A person whose business is operated by the debtor under a lease or other agreement, or a person substantially all of whose assets are controlled by the debtor; or d. A person who operates the debtor's business under a lease or other agreement or controls substantially all of the debtor's assets. "Asset" means property of a debtor, but the term does not include: a. Property to the extent it is encumbered by a valid lien; b. Property to the extent it is generally exempt under nonbankruptcy law; or c. An interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant. "Claim", except as used in "claim for relief," means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured. "Creditor" means a person who has a claim. "Debt" means liability on a claim. "Debtor" means a person who is liable on a claim. "Electronic" means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. amended 2021, c.92, s.2.