New Jersey § 58:5-50
Full text of New Jersey New Jersey Statutes § 58:5-50, with citation guidance and answers to common questions.
§ 58:5-50.
If the bond resolution of a commission authorizing or providing for the issuance of
a series of its bonds shall provide in substance that the holders of the bonds of
such series shall be entitled to the benefits of section 19 of this act 1 and shall further provide in substance that any trustee appointed pursuant to said
section or having the powers of such a trustee shall have the powers provided by this
section, then such trustee, whether or not all of the bonds of such series shall have
been declared due and payable, shall be entitled as of right to the appointment of
a receiver of the project, the revenues of which are pledged for the payment or security
of bonds of such series. Such receiver may enter upon and take possession of said project and, subject to
any pledge or contract with the holders of such bonds, shall take possession of all
moneys and other property derived from or applicable to the acquisition, construction,
operation, maintenance or reconstruction of said project and proceed with such acquisition,
construction, operation, maintenance or reconstruction which the commission is under
any obligation to do, and operate, maintain and reconstruct the said project and fix,
charge, collect, enforce and receive all revenues from said project thereafter arising
subject to any pledge thereof or contract with the holders of such bonds relating
thereto and perform the public duties and carry out the contracts and obligations
of the commission in the same manner as the commission itself might do and under the
direction of the court. 1
N.J.S.A. § 58:5-49.
Frequently Asked Questions About New Jersey § 58:5-50
What does New Jersey Statutes § 58:5-50 cover?
Section 58:5-50 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 § 58:5-50?
A common citation format is "New Jersey Statutes § 58:5-50" (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 § 58:5-50 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.