2013 New Jersey Revised Statutes
Title 34 - LABOR AND WORKMEN'S COMPENSATION
Section 34:18-2 - Failure to segregate security moneys; bankruptcy; insolvency


NJ Rev Stat § 34:18-2 (2013) What's This?

34:18-2. Failure to segregate security moneys; bankruptcy; insolvency
The failure of any employer to segregate such moneys or to deposit such moneys in separate accounts shall not be deemed or taken to constitute a discontinuance of such relationship of trust, and the inability to trace any such trust funds shall not be deemed or taken as a discontinuance of such relationship of trust. Upon the bankruptcy or insolvency of any such employer who shall not have segregated such moneys or deposited such moneys in separate accounts, the first moneys realized from the assets of any such employer shall be taken and set aside in an amount equal to the sums of money taken or received by said employer as deposit or security aforesaid, and dealt with as if such moneys had been segregated by said employer or deposited in separate accounts and the trust aforesaid shall be impressed thereon.

L.1939, c. 117, p. 425, s. 2.


Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.