New Jersey Statutes 58:10-23.11g9. Obligations of trusts, estates
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Terms Used In New Jersey Statutes 58:10-23.11g9
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
6. In the event of the discharge of a hazardous substance from a vessel, facility, or underground storage tank facility, which vessel, facility , or underground storage tank facility is all or part of a trust, receivership estate, guardianship estate or estate of a deceased person, only the assets of the trust or estate, or assets of any discharger other than the fiduciary of such trust or estate, shall be subject to the obligation to pay for the cleanup of the discharge as set forth in the “Spill Compensation and Control Act,” P.L.1976, c.141 (C. 58:10-23.11 et seq.) or subject to any obligations imposed pursuant to P.L.1986, c.102 (C. 58:10A-21 et seq.).
L.1993,c.112,s.6; amended 1997, c.278, s.45.