New Jersey Statutes 42:3-19. Receiver for expired or dissolved association; application; summary hearing
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 42:3-19
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Any creditor or member of any limited partnership association which has expired by its own limitation, or been otherwise dissolved, or which shall so expire or be dissolved may, at any time after such expiration or dissolution in an action apply to the Superior Court for the appointment of a receiver or receivers for the association. The court upon such notice as it may direct, may proceed in a summary manner or otherwise.
Amended by L.1953, c. 40, p. 762, s. 9, eff. March 19, 1953.