New Jersey § 17:12b-142
Full text of New Jersey New Jersey Statutes § 17:12b-142, with citation guidance and answers to common questions.
§ 17:12b-142.
Any State association, except one which operates under the nonshare plan described
in section 76 of this act, 1 may, upon the withdrawal of an account prior to its maturity, retain such portion
of the dividends credited to such account as its by-laws may prescribe, not exceeding
however, 50% thereof if the withdrawal application is filed within 2 years from the
date when such account was opened, and at least 5% less for each succeeding year,
if the withdrawal application is filed before the end of the third or any succeeding
year; provided, however, 5% of the dividends may be retained upon any withdrawal
regardless of the time when the withdrawal application may be filed; and provided
further, that any State association may continue to apply its profit retention schedule
which was in existence on April 4, 1946, insofar as it is reasonable, but such changes,
if any, as may hereafter be made therein, shall conform with the limitations of this
section. 1
N.J.S.A. § 17:12B-76.
Frequently Asked Questions About New Jersey § 17:12b-142
What does New Jersey Statutes § 17:12b-142 cover?
Section 17:12b-142 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 § 17:12b-142?
A common citation format is "New Jersey Statutes § 17:12b-142" (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 § 17:12b-142 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.