N.J. Stat. § 46:8-23
Statutory trust upon insolvency or bankruptcy of person receiving security deposit
New Jersey · New Jersey Statutes Title 46 — Property · Status: effective
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- Citation
- N.J. Stat. § 46:8-23, Statutory trust upon insolvency or bankruptcy of person receiving security deposit, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1474933
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Full text
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.