New Jersey § 5:12-130
Full text of New Jersey New Jersey Statutes § 5:12-130, with citation guidance and answers to common questions.
§ 5:12-130.
In any proceeding pursuant to section 31 of P.L.1978, c. 7 ( C. 5:12-130.1 ), the commission shall, upon the appointment of a conservator, establish a reasonable
rate of compensation for the services, costs and expenses in the conservatorship action
of the conservator. The commission shall also designate the party or parties responsible for the payment
of compensation to the conservator and shall direct that the responsible party or
parties guarantee payment in such manner as the commission shall deem appropriate. The rate of compensation payable to the attorney for the conservator, the appraiser,
the auctioneer, the accountant and such other persons as the commission may appoint
in connection with the conservatorship action shall be established by the commission
at the time of appointment. All requests for payment by the conservator and other persons appointed by the commission
in connection with the conservatorship shall be subject to the approval of the commission,
and the commission shall reduce any fee which it deems to be excessive. Fees payable to the conservator and expenses incurred in the course of the conservatorship
shall have priority for payment over all other debts or obligations of the former
or suspended licensee, including debts or obligations secured by the former or suspended
licensee's property.
Frequently Asked Questions About New Jersey § 5:12-130
What does New Jersey Statutes § 5:12-130 cover?
Section 5:12-130 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 § 5:12-130?
A common citation format is "New Jersey Statutes § 5:12-130" (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 § 5:12-130 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.