New Jersey § 4:12-11
Full text of New Jersey New Jersey Statutes § 4:12-11, with citation guidance and answers to common questions.
§ 4:12-11.
A licensee shall make a verified statement of his disbursements during a period to
be prescribed by the secretary, containing the names of the producers from whom such
products were purchased and the amount due to said producers. The statement shall be submitted to the secretary when requested by him and shall
be in form as prescribed by him. If it appears from such statement or other facts ascertained by him, upon inspection
or investigation of the books and papers of the licensee as authorized by sections 4:12-14 and 4:12-15 of this Title, that the security afforded to producers selling milk or cream to the
licensee, by the bond executed or deposit made as provided in this article, does not
adequately protect said producers, the secretary may require the licensee to give
an additional bond or to deposit additional money or securities, to be executed or
deposited as provided in this article, in a sum to be determined by the secretary
but, such additional requirement as provided under this section shall not exceed $100,000.00. Before making a determination on the requirement of an additional bond, money or
securities as provided in this section, the secretary shall hold a hearing if requested
in writing by the licensee. In making such determination, the secretary shall consider the volume of milk currently
being purchased; indebtedness; assets; accounts payable and receivable; sales
trends; and other factors he may consider relevant in determining the financial condition
of the licensee. The licensee may in lieu of additional bond or deposit of additional money or securities,
as provided under this section, offer and the secretary may approve payment to producers
on a more frequent schedule than that provided by law.
Frequently Asked Questions About New Jersey § 4:12-11
What does New Jersey Statutes § 4:12-11 cover?
Section 4:12-11 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 § 4:12-11?
A common citation format is "New Jersey Statutes § 4:12-11" (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 § 4:12-11 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.