New Jersey § 45:23-8
Full text of New Jersey New Jersey Statutes § 45:23-8, with citation guidance and answers to common questions.
§ 45:23-8.
At the time of filing each registration statement, the trading stamp company shall
also file with the Secretary of State a bond payable to the people of the State of
New Jersey and duly executed by the company and a corporate surety qualified to do
business in this State. Such bond shall be conditioned upon the performance by the trading stamp company
of its obligation to redeem trading stamps issued by retailers in this State when
they are duly presented for redemption by the rightful holders. The principal sum of the bond required by this chapter shall be as follows: if the
company has not previously done business as a trading stamp company in this State,
or if the company's gross income from such business during its last fiscal year was
not in excess of $100,000.00 the principal sum shall be $10,000.00; for each additional
$100,000.00, or fraction thereof, of gross income from such business in this State
during its last fiscal year, an additional $10,000.00; but such bond shall not exceed
$150,000.00. On the effective date of each new bond, any and all liability on all bonds previously
filed under this chapter shall terminate, and all rightful holders of trading stamps
who prosecute their claims under said section shall prosecute such claims solely against
the new bond and only by filing proofs of claim with the Secretary of State in the
manner provided in this chapter.
Frequently Asked Questions About New Jersey § 45:23-8
What does New Jersey Statutes § 45:23-8 cover?
Section 45:23-8 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 § 45:23-8?
A common citation format is "New Jersey Statutes § 45:23-8" (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 § 45:23-8 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.