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New Jersey Statutes, Title: 42, PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
Chapter 4: Purpose and construction of article
Section: 42:4-7: Temporary receiver or other custodian of property
On application at the time of the commencement of the action or at any subsequent time before or after a judgment of dissolution or other judgment, the court may appoint a temporary receiver or may charge the persons in actual control of the partnership assets as trustees under appointment by and accountable to the court, and, from the time of the making of such order, the property of the partnership shall, until an order of the court made to the contrary, be considered as in custodia legis, with a view to ultimate distribution amongst creditors and others entitled to participate therein.
Amended by L.1953, c. 40, p. 766, s. 26, eff. March 19, 1953.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 42:4-7 (if available):
Court decisions that cite this statute:
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