4:12-7. Filing of claims by creditors upon default by licensee
117 words·~1 min read·
/nj/title-4/chapter-12/4-12-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon default by the licensee in the payment of any money due for the purchase of milk or cream from producers of this state, which payment is secured by a bond or a deposit of money or securities as provided in section 4:12-4 of this title, the creditor may file a verified statement of his claim with the secretary upon a form prescribed by the latter.
If the creditor has reduced his claim to judgment, a transcript of the judgment shall also be filed with the secretary.
Such statements may be filed at any time during the period of the license for purchases made during such period and within ninety days from the termination of such period.