New Jersey § 4:12-8
Full text of New Jersey New Jersey Statutes § 4:12-8, with citation guidance and answers to common questions.
§ 4:12-8.
The secretary shall audit claims properly filed and determine the amounts due all
such creditors. After the expiration of ninety days from the termination of a license period or sooner
if it appears practicable to do so, the secretary shall, by sale of the securities
or by demand upon the surety secure an amount necessary to satisfy all claims properly
filed. If the surety shall not make payment upon demand by the secretary, he shall by action
recover from the surety the amount necessary to satisfy such claims, which sum shall
not exceed the amount of the bond filed. Upon securing moneys available for the satisfaction of such claims in accordance
with this section, the secretary shall make distribution to the claimants in accordance
with the proofs filed, either ratably, or in full as the case may be. If a creditor has reduced his claim to judgment, the judgment shall be presumptive
proof of the amount due him.
Frequently Asked Questions About New Jersey § 4:12-8
What does New Jersey Statutes § 4:12-8 cover?
Section 4:12-8 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 § 4:12-8?
A common citation format is "New Jersey Statutes § 4:12-8" (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 § 4:12-8 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.