New Jersey § 4:11-29
Full text of New Jersey New Jersey Statutes § 4:11-29, with citation guidance and answers to common questions.
§ 4:11-29.
The secretary shall audit claims properly filed and determine the amounts due all
such creditors. Whenever an audit and hearing determine a claim to be valid and there is a refusal
to pay, demand shall be made upon the surety after 90 days. During the 90 days the secretary shall publish the nonpayment of the claim each
week in a newspaper in the county where the licensee resides as well as in all counties
where transactions may have taken place in New Jersey with a request for all claims. All claimants will be required to file claims before expiration of said 90 days
and demand is made on surety. During the 90 days the license of the dealer is revoked and can only be renewed
after a new application and hearing. If the surety shall not make payment of the amount so demanded, upon the expiration
of 90 days from the termination of the license period, the secretary shall bring an
action at law to recover from the surety on said bond the amount necessary to satisfy
such claims or such part thereof as shall equal the amount of the bond, which action
may be instituted by the secretary in his official capacity as such on behalf of said
claimants, but without naming them as plaintiffs or defendants therein. The moneys obtained from the sale of said securities or by action against the surety
shall be used for the satisfaction of such claims, and the secretary shall make distribution
thereof to the claimants in accordance with the amounts determined to be due thereon,
and if less than the total amount of said claims shall be so obtained, distribution
shall be made ratably to the creditors according to said amounts. If a creditor has reduced his claim to judgment, the judgment shall be presumptive
proof of the amount due him. Claims not filed during the license period or within 90 days from the termination
of the license period, shall not be received, acted upon or paid and shall not participate
in the proceeds of any bond, moneys or securities deposited with the secretary. The secretary may bring an action in any court of competent jurisdiction against the
licensee or surety or sureties on the bond or bonds for the recovery of any money
due and owing to a grower or growers as hereinbefore provided.
Frequently Asked Questions About New Jersey § 4:11-29
What does New Jersey Statutes § 4:11-29 cover?
Section 4:11-29 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 § 4:11-29?
A common citation format is "New Jersey Statutes § 4:11-29" (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 § 4:11-29 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.