17:12B-183. Purpose of possession and operation by commissioner
77 words·~1 min read·
/nj/title-17/chapter-12b/17-12b-183·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purpose of the commissioner's management of a State association and operation of its business and possession of its assets shall be to enable him to determine, within 1 year from the date when he undertakes such management, whether it is for the best interests of its creditors, members and the public that the State association should be continued as a going concern, or should be merged, reorganized or dissolved and liquidated.
L.1963, c. 144, s. 183.