New Jersey § 42:6-9 Repayment of excess of funds derived from assessments

New Jersey Statutes

§ 42:6-9 — Repayment of excess of funds derived from assessments

New Jersey § 42:6-9

Title 42PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS

This text of New Jersey § 42:6-9 (Repayment of excess of funds derived from assessments) 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. § 42:6-9 (2026).

Text

If, on the final account of the receivers or trustees, it shall appear that, as a result of the assessments made under section 42:6-7 of this title, more funds have been realized and remain unexpended in the hands of the receivers or trustees than are necessary to satisfy all claims against the association and the expenses of the proceedings under this chapter, such surplus shall be repaid pro rata to those who have contributed thereto.

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If, on the final account of the receivers or trustees, it shall appear that, as a result of the assessments made under section 42:6-7 of this title, more funds have been realized and remain unexpended in the hands of the receivers or trustees than are necessary to satisfy all claims against the association and the expenses of the proceedings under this chapter, such surplus shall be repaid pro rata to those who have contributed thereto.