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New Jersey Statutes, Title: 46, PROPERTY
Chapter 8: Attornments by tenant to strangers to title; effect
Section: 46:8-23: Statutory trust upon insolvency or bankruptcy of person receiving security deposit
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, lease or agreement.
L.1967, c. 265, s. 5, eff. Jan. 1, 1968.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:8-23 (if available):
Court decisions that cite this statute:
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