New Jersey Statutes 18A:13-62. Division of assets and liabilities in event of withdrawal, dissolution
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 18A:13-62
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- County superintendent: means the County Superintendent of Schools. See New Jersey Statutes 18A:1-1
- District: means a school district. See New Jersey Statutes 18A:1-1
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
12. The county superintendent in a written report filed by him at the end of the school year preceding that in which the withdrawal or dissolution becomes effective shall make a division of the assets and liabilities between the withdrawing district and the regional district, or among the constituent districts in the event of a dissolution, in the same manner as provided in N.J.S. 18A:8-24
L.1975,c.360,s.12; amended 1993,c.255,s.11.