New Jersey § 3b:23-2
Full text of New Jersey New Jersey Statutes § 3b:23-2, with citation guidance and answers to common questions.
§ 3b:23-2.
For the purpose of valuation under subsection b. of N.J.S. 3B:23-1 securities regularly traded on recognized exchanges, if distributed in kind, are
valued at the price for the last sale of like securities traded on the business day
prior to distribution, or if there was no sale on that day, at the mean between amounts
bid and offered at the close of that day. Assets consisting of sums owed the decedent or the estate by solvent debtors as
to which there is no known dispute or defense are valued at the sum due with accrued
interest or discounted to the date of distribution. For assets which do not have readily ascertainable value, a valuation as of a date
not more than 30 days prior to the date of distribution, if otherwise reasonable,
controls. For purposes of facilitating distribution, the personal representative may ascertain
the value of the assets as of the time of the proposed distribution in any reasonable
way, including the employment of qualified appraisers, even if the assets may have
been previously appraised.
Frequently Asked Questions About New Jersey § 3b:23-2
What does New Jersey Statutes § 3b:23-2 cover?
Section 3b:23-2 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:23-2?
A common citation format is "New Jersey Statutes § 3b:23-2" (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:23-2 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.