New Jersey § 52:27-33
Full text of New Jersey New Jersey Statutes § 52:27-33, with citation guidance and answers to common questions.
§ 52:27-33.
Whenever the commission shall function in any municipality and so long as it shall
continue to do so, no action or proceeding shall be brought or prosecuted, the purpose
of which is to affect the disposition of property or funds owned or controlled by
the municipality, except as provided in this chapter. If any such municipality has in its possession or under its control, or there is in
the possession or under the control of the commission, any property or funds of such
municipality which are or may be available for the payment of interest or principal
upon any of the debts of such municipality (over and above the payment of the current
operating expenses of the municipality and the maintenance of a reasonable working
capital), then such municipality in its discretion may bring an action, or if directed
by the commission shall do so, in the Superior Court to determine the application
and distribution of such property or funds to and among the creditors of the municipality,
and in any such case the court in its discretion may permit an action for relief of
the same character to be made by any creditor of the municipality. In any such action all creditors of the municipality shall be made parties thereto,
and any creditor may appear therein and assert his rights to receive all or any part
of such property or funds. The court may proceed in the action in a summary manner or otherwise. In case any such action shall be instituted, the court may direct the municipality
to make no payments from any of such moneys so available until the determination of
the action or until permitted by the court. Unless and until such a direction shall be made, payments may be made by such municipality
on account of principal and interest as the municipality may determine and as may
be approved by the commission.
Frequently Asked Questions About New Jersey § 52:27-33
What does New Jersey Statutes § 52:27-33 cover?
Section 52:27-33 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 § 52:27-33?
A common citation format is "New Jersey Statutes § 52:27-33" (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 § 52:27-33 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.