New Jersey § 17:12b-180
Full text of New Jersey New Jersey Statutes § 17:12b-180, with citation guidance and answers to common questions.
§ 17:12b-180.
For the purpose of conserving the assets of a State association and of protecting
the interests of its members and the public, the commissioner may require any State
association, by an order in writing effective for a period of 90 days, to apply money
received by it in the manner provided in section 187 of this act; 1 to postpone the payment of all, or any portion of its applications for withdrawals
and maturities as he may deem necessary and expedient, to be determined by him according
to the ability of the State association to pay withdrawals and maturities so long
as such payment does not result in any discrimination against the interest of the
other members of the State association and to restrict or limit investments thereafter
made. Such order may also prohibit all persons, including members, from instituting suit
on any claim against said State association during said period. The commissioner may continue the effectiveness of any such order for additional
90-day periods from time to time but not for a total period longer than 1 year from
the date of the issuance of the original order. He may also modify any such order from time to time within said 1-year period. The making of any such order, or modification thereof, shall not prohibit the commissioner
from proceeding in accordance with the provisions of sections 181 and 182 of this
act. 2 1
N.J.S.A. § 17:12B-187. 2
N.J.S.A. §§ 17:12B-181 and 17:12B-182.
Frequently Asked Questions About New Jersey § 17:12b-180
What does New Jersey Statutes § 17:12b-180 cover?
Section 17:12b-180 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-180?
A common citation format is "New Jersey Statutes § 17:12b-180" (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-180 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.