2016 New Jersey Revised Statutes
Title 16 - Corporations And Associations, Religious
Section 16:1-26 - Disposition Of Funds For School Purposes; Action To Determine Disposition
16:1-26. Disposition of funds for school purposes; action to determine disposition
When funds have been given to any person or corporation for the purpose of maintaining a school, or for the support of poor scholars in a school formerly maintained, on the property of a religious society, and such school has ceased to exist, the Superior Court, in a civil action by any such person or corporation may, if it be found impossible to carry out and comply with the trust fully, direct payment of the income from such funds to the maintenance of the property of such religious society, or for any other purpose nearest akin to the trust. The court may proceed in the action in a summary manner or otherwise.
Amended by L.1953, c. 16, p. 140, s. 2, eff. March 19, 1958.
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.
