N.J.S.A. 52:27-43 — Commission authorized to approve petition and plan; restrictions

52:27-43. Commission authorized to approve petition and plan; restrictions The commission may in its discretion give its approval in the manner provided by this article to the filing of any petition for the purpose of effecting readjustment of its debt which any political subdivision proposes to file, and of any plan of readjustment filed with or in the proceedings upon any such petition; but no such plan of readjustment shall provide for the payment of fees, compensation, reimbursement or other allowances for attorneys, agents, committees, or other representatives of creditors of the political subdivision, except subject to the express approval in writing by the commission of every such payment. Amended by L.1946, c. 31, p. 72, s. 1.

This is the verbatim text of N.J.S.A. 52:27-43, 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.