New Jersey Statutes 52:18A-19.7. Balance on hand; disposition
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Terms Used In New Jersey Statutes 52:18A-19.7
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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 balance remaining on hand after the payment of all expenses and liabilities at the present cafeterias, on the effective date of this act, shall be paid into the State treasury and shall become a part of the State Cafeterias Revolving Account and all of the assets of the present cafeteria or cafeterias shall be conveyed to and become the property of the State on said date.
L.1951, c. 312, p. 1117, s. 3.