17:3A-2. Application during liquidation for order to destroy records, etc.; notice of application; publication; order for destruction
179 words·~1 min read·
/nj/title-17/chapter-3a/17-3a-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
At any time during the liquidation of a corporation, the liquidator may apply to the Superior Court for an order authorizing the destruction of such of the records, documents and other papers of the corporation, excluding those relating to the liquidation, which, in the opinion of the liquidator, it is unnecessary further to preserve or retain. The court may, in its discretion, order that notice of the application be advertised not less than once a week for three successive weeks, in a newspaper published in the municipality in which the corporation maintained its principal office, or, if there be no such newspaper, then in one published in the county in which such principal office was maintained, or in an adjoining county, and which has a general circulation in such municipality.
If the court is satisfied that no rights will be adversely affected by the destruction of such records, documents and other papers, and that their further preservation or retention is unnecessary, it may make an order authorizing the liquidator to destroy them.
L.1948, c. 266, p. 1157, s. 2.