N.J.S.A. 46:8-25

Unlawful diversion of trust funds; penalty

46:8-25. Unlawful diversion of trust funds; penalty Any person party to said contract, lease or agreement, or any agent of said person, or any officer of a corporation receiving said moneys, who, with knowledge that such moneys constitute trust funds, unlawfully diverts or consents to an unlawful diversion of such moneys shall be a disorderly person and subject to a fine of not less than $200.00 or by imprisonment for not more than 30 days, or both. L.1967, c. 265, s. 7, eff. Jan. 1, 1968.

External source: View on Justia →

This is the verbatim text of N.J.S.A. 46:8-25, 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. 46:8-25 — Unlawful diversion of trust funds; penalty | Kyzer