New Jersey § 4:13-33
Full text of New Jersey New Jersey Statutes § 4:13-33, with citation guidance and answers to common questions.
§ 4:13-33.
In the case of associations with capital stock, after payment of expenses and the
establishment of the funds, as authorized in section 4:13-31 of this Title, and as near or as soon after the end of the fiscal year as possible
there shall be paid to the members out of the income of the association an interest
dividend not exceeding 8% of the par value of the stock held by them at the end of
the fiscal year. The whole balance then remaining after the payment of interest dividend 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 making such division among the member and nonmember
producers in cash, may keep a permanent record from which the proportionate shares
due to members and nonmember producers can be determined, as part of a reserve for
patrons' revolving fund, which may be evidenced by certificates or notices and, in
the case of nonmember producer patrons, such shares may be made applicable toward
the purchase price of a share or shares of stock of a membership in the association. In calculating the amount to be paid to nonstockholders, 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 § 4:13-33
What does New Jersey Statutes § 4:13-33 cover?
Section 4:13-33 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 § 4:13-33?
A common citation format is "New Jersey Statutes § 4:13-33" (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 § 4:13-33 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.