N.J. Stat. § 34:18-2
Failure to segregate security moneys; bankruptcy; insolvency
New Jersey · New Jersey Statutes Title 34 — Labor and Workmen's Compensation · Status: effective
Cite this
- Citation
- N.J. Stat. § 34:18-2, Failure to segregate security moneys; bankruptcy; insolvency, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1462091
- Permanent ID
ys:prov:1462091@1- SHA-256
2c4789d481848877d61f5ace635bfbcbe84ad931172b235d7d6718fd96f12b15
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The failure of any employer to segregate such moneys or to deposit such moneys in separate accounts shall not be deemed or taken to constitute a discontinuance of such relationship of trust, and the inability to trace any such trust funds shall not be deemed or taken as a discontinuance of such relationship of trust. Upon the bankruptcy or insolvency of any such employer who shall not have segregated such moneys or deposited such moneys in separate accounts, the first moneys realized from the assets of any such employer shall be taken and set aside in an amount equal to the sums of money taken or received by said employer as deposit or security aforesaid, and dealt with as if such moneys had been segregated by said employer or deposited in separate accounts and the trust aforesaid shall be impressed thereon.