New Jersey § 4:13-32
Full text of New Jersey New Jersey Statutes § 4:13-32, with citation guidance and answers to common questions.
§ 4:13-32.
In the case of associations without capital stock after payment of expenses and the
establishment of the funds, as authorized in section 4:13-31 of this Title, and as soon after the end of the fiscal year as possible, the whole
balance remaining shall be divided among those patrons, members, and nonmember producers
and may include nonproducers on the basis of patronage in the proportion that the
volume of business done for such patrons by the association during the fiscal year
bears to the total volume of business transacted by the association during the fiscal
year; provided, however, that the association instead of paying patronage dividends
to member and nonmember producers in cash may keep a permanent record from which the
proportionate shares of the patronage dividends due to member and nonmember producers
can be determined, as part of a reserve or patrons' revolving fund, which may be evidenced
by certificates or notices, and in the case of nonmember producers, such shares may
be made applicable toward the cost of membership in the association. In calculating the amount to be paid to a nonmember upon whom liability for the debts
of the association has not been imposed as authorized by section 4:13-30 of this Title, such sum shall be deducted as in the opinion of the directors is a
reasonable charge, in lieu of such liability.
Frequently Asked Questions About New Jersey § 4:13-32
What does New Jersey Statutes § 4:13-32 cover?
Section 4:13-32 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 § 4:13-32?
A common citation format is "New Jersey Statutes § 4:13-32" (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 § 4:13-32 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.