New Jersey § 42:3-25
Full text of New Jersey New Jersey Statutes § 42:3-25, with citation guidance and answers to common questions.
§ 42:3-25.
The court may proceed in the action in a summary manner or otherwise. If it shall appear to the court that the association has become insolvent and is
not about to resume its business in a short time thereafter, or that its business
has been and is being conducted at a great loss and greatly prejudicial to the interests
of its creditors or members, so that its business cannot be conducted with safety
to the public and advantage to the members, it may provide injunctive relief to restrain
the association, and its officers and agents, from exercising any of its privileges
or franchises and from collecting or receiving any debts, or paying out, selling,
assigning or transferring any of its estate, moneys, funds, lands, tenements or effects,
except to a receiver appointed by the court, until the court shall otherwise order.
Frequently Asked Questions About New Jersey § 42:3-25
What does New Jersey Statutes § 42:3-25 cover?
Section 42:3-25 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 42:3-25?
A common citation format is "New Jersey Statutes § 42:3-25" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 42:3-25 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.