New Jersey § 3b:19b-18
Full text of New Jersey New Jersey Statutes § 3b:19b-18, with citation guidance and answers to common questions.
§ 3b:19b-18.
a. As used in this section, “ liquidating asset ” means an asset whose value will diminish or terminate because the asset is expected
to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right and right to receive
payments during a period of more than one year under an arrangement that does not
provide for the payment of interest on the unpaid balance. The term does not include a payment subject to section 17 of this act, resources
subject to section 19 of this act, timber subject to section 20 of this act, an activity
subject to section 22 of this act, an asset subject to section 23 of this act, or
any asset for which the trustee establishes a reserve for depreciation under section
26 of this act. b. A trustee shall allocate to income 10 percent of the receipts from a liquidating
asset and the balance to principal.
Frequently Asked Questions About New Jersey § 3b:19b-18
What does New Jersey Statutes § 3b:19b-18 cover?
Section 3b:19b-18 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 § 3b:19b-18?
A common citation format is "New Jersey Statutes § 3b:19b-18" (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 § 3b:19b-18 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.