New Jersey § 45:15-17
Full text of New Jersey New Jersey Statutes § 45:15-17, with citation guidance and answers to common questions.
§ 45:15-17.
Upon entering an order temporarily suspending the license of any broker, the commission
may also enter an order directing that some or all of the accounts maintained by the
broker in any depository institution in the State be temporarily frozen. The commission shall serve copies of the order upon the institution either in person
or by certified mail within ten days and, where a broker's trust or escrow account
is frozen, upon all persons known to the commission for whom the broker was acting
as escrow agent or trustee. In the event the commission subsequently determines that the suspension shall not
be continued, it shall immediately notify the depository institution and other interested
parties that the temporary freeze order is dissolved. If the commission orders that the license suspension shall continue for more than
30 days or that a license revocation shall be imposed, the commission shall, within
10 days of that ruling, make application to Superior Court for payment into the court
of all funds in the accounts temporarily frozen by order of the commission. The commission shall provide notice of the application to the broker and all known
interested parties. Following payment into court, the monies or any portion of them shall thereafter
only be released upon court order obtained by the broker or other interested party,
upon notice to the commission and in compliance with court rules.
Frequently Asked Questions About New Jersey § 45:15-17
What does New Jersey Statutes § 45:15-17 cover?
Section 45:15-17 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 § 45:15-17?
A common citation format is "New Jersey Statutes § 45:15-17" (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 § 45:15-17 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.