New Jersey Statutes 18A:13-78. Division of assets, liabilities
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Terms Used In New Jersey Statutes 18A:13-78
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- County superintendent: means the County Superintendent of Schools. See New Jersey Statutes 18A:1-1
- District: means a school district. See New Jersey Statutes 18A:1-1
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
The county superintendent in a written report filed by him at the end of the school year preceding that in which the withdrawal becomes effective shall make a division of the assets and liabilities between the new district and the remaining district in the same manner as provided in N.J.S. 18A:8-24
L.1989,c.90,s.13.