New Jersey Statutes 17:12B-183. Purpose of possession and operation by commissioner
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Terms Used In New Jersey Statutes 17:12B-183
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
The purpose of the commissioner’s management of a State association and operation of its business and possession of its assets shall be to enable him to determine, within 1 year from the date when he undertakes such management, whether it is for the best interests of its creditors, members and the public that the State association should be continued as a going concern, or should be merged, reorganized or dissolved and liquidated.
L.1963, c. 144, s. 183.