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New Jersey Statutes, Title: 2A, ADMINISTRATION OF CIVIL AND CRIMINAL JUSTICE
Chapter 29a: Money deposited or advanced for purchase of dwelling house as trust fund
Section: 2A:29a-3: Insolvency or bankruptcy of person receiving money deposited or advanced
In the event of the insolvency or bankruptcy of the person receiving the said moneys, the claim of the person who paid the said moneys shall constitute a statutory trust with respect to any moneys so received and not previously expended in accordance with the terms of the contract or agreement.
L.1962, c. 208, s. 3.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 2a:29a-3 (if available):
Court decisions that cite this statute:
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