State Codes and Statutes

Statutes > New-jersey > Title-2a > Section-2a-19 > 2a-19-2

2A:19-2.  Assignments must be for equal benefit;  preferences void    Every general assignment made by a debtor residing in this state shall be made for the equal benefit of his creditors in proportion to their several demands, to the extent of the net amount that shall come to the hands of the assignee for distribution.  All preferences attempted to be made in any such assignment of one creditor over another, or whereby any one creditor shall be first paid or have a greater proportion in respect of his claim than another, shall be deemed fraudulent and shall render the assignment void.
 
L.1951 (1st SS), c.344.