N.J.S.A. 46:30B-40

Fiduciary for business association deemed holder of property

46:30B-40. Fiduciary for business association deemed holder of property 46:30B-40. Fiduciary for business association deemed holder of property. For the purposes of this article, a person who is deemed to hold property in a fiduciary capacity for a business association alone is the holder of the property only insofar as the interest of the business association in the property is concerned, and the business association is the holder of the property insofar as the interest of any other person in the property is concerned. Source: New. L.1989, c.58, s.1.

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This is the verbatim text of N.J.S.A. 46:30B-40, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.