New Jersey § 44:10-91
Full text of New Jersey New Jersey Statutes § 44:10-91, with citation guidance and answers to common questions.
§ 44:10-91.
a. Notwithstanding the provisions of any other law to the contrary, in the event of
the death of the account holder, the ownership of the individual development account
shall be transferred to the ownership of a contingent beneficiary, which the account
holder shall name at the time the account is established and may change at any time. If the beneficiary is deceased or otherwise cannot accept the transfer, the moneys
in the individual development account derived from the account holder's earned income
and any interest accrued thereon shall be transferred to the estate of the account
holder. b. If an individual development account is closed pursuant to subsection a. of this
section or an account holder withdraws from the individual development account program
or forfeits his State matching funds due to an unauthorized withdrawal, any moneys
held for matching funds for that account may be retained in the reserve fund for reallocation
to be used as matching funds for new individual development accounts.
Frequently Asked Questions About New Jersey § 44:10-91
What does New Jersey Statutes § 44:10-91 cover?
Section 44:10-91 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 § 44:10-91?
A common citation format is "New Jersey Statutes § 44:10-91" (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 § 44:10-91 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.