All money paid by the state of New Jersey or by any agency, commission or department thereof, or by any county, municipality or school district in the state, to any person pursuant to the provisions of any contract for any public improvement made between any such person and the state or any agency, commission or department thereof, or any county, municipality or school district in the state, shall constitute a trust fund in the hands of such person as such contractor, until all claims for labor, materials and other charges incurred in connection with the performance of such contract shall have been fully paid.
N.J. Stat. Ann. § 2A:44-148
Money paid to contractor trust fund for payment of claims
Known as the Self-Service Storage Facility Act
The act spans §§ 2–2 (132 sections).
Applied in 1 court decision — leading case D & D Associates, Inc. v. Board of Education of North Plainfield (2014)
Most recently applied in D & D Associates, Inc. v. Board of Education of North Plainfield (January 2014)
L.1951 (1st SS), c.344.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.