N.J.S.A. 17:12B-229

Definition of liquidation

17:12B-229. Definition of liquidation As used in this act, liquidation shall include the winding up and settlement of the business and affairs of an association, the liquidation of its assets, the payment and satisfaction of its debts and obligations and the expenses of its liquidation, the distribution of its surplus assets to its members pro rata and the management and direction of its affairs during the liquidating period. L.1963, c. 144, s. 229.

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This is the verbatim text of N.J.S.A. 17:12B-229, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 17:12B-229 — Definition of liquidation | Kyzer