N.J.S.A. 2A:19-2 — Assignments must be for equal benefit; preferences void

2A:19-2. Assignments must be for equal benefit; preferences void Every general assignment made by a debtor residing in this state shall be made for the equal benefit of his creditors in proportion to their several demands, to the extent of the net amount that shall come to the hands of the assignee for distribution. All preferences attempted to be made in any such assignment of one creditor over another, or whereby any one creditor shall be first paid or have a greater proportion in respect of his claim than another, shall be deemed fraudulent and shall render the assignment void. L.1951 (1st SS), c.344.

This is the verbatim text of N.J.S.A. 2A:19-2, 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.