New Jersey § 4:12-4
Full text of New Jersey New Jersey Statutes § 4:12-4, with citation guidance and answers to common questions.
§ 4:12-4.
A license shall not be issued unless and until the applicant shall file with the secretary
a good and sufficient surety bond, executed by a surety company duly authorized to
transact business in this State, in a sum not less than one and one-half times the
estimated maximum monthly value of the milk or cream to be purchased or received or
which may have been purchased or received by the applicant from a producer or producers
during the preceding 12 months. The bond shall be approved as to form and sufficiency by the secretary, shall be given
to the secretary in the secretary's official capacity and shall be conditioned for the faithful compliance by the licensee
with the provisions of this article and for the payment of all amounts due to producers
who have sold milk or cream to the licensee, during the period that the license is
in force. The applicant may, in lieu of a bond, deposit with the secretary money, or transferable United States Treasury bonds,
notes, certificates, bills or other obligations issued or fully and unconditionally
guaranteed by the United States Government both as to principal and interest in transferable
bearer form , in an amount equal to the sum secured by the bond required to be filed. The money or securities so deposited shall constitute a separate fund and shall be
held in trust for, and applied exclusively to, the payment of claims against the licensee
making the deposit, arising from the sale of milk or cream to the licensee , and all proceeds from the surety bonds, money or securities shall be distributed
to the producer-creditors by the secretary.
Frequently Asked Questions About New Jersey § 4:12-4
What does New Jersey Statutes § 4:12-4 cover?
Section 4:12-4 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 § 4:12-4?
A common citation format is "New Jersey Statutes § 4:12-4" (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 § 4:12-4 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.