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Current as of January 01, 2024 | Updated by Findlaw Staff
2. If it shall be necessary for either party to set apart, out of any funds available therefor, any sum or sums to create a fund to be used for making compensation to owners of real property or of any interest therein to be acquired for the purposes of this contract, such fund shall be created within the state where such real property or interest therein is located, by equal contributions of each of the contracting parties hereto, and shall not be used for any other purpose until such compensation has been fully made according to the law of the state wherein such real property or interest therein is located. The fund so created shall be deposited with the custodian authorized by law to receive and hold the same. If after the proceedings provided for in this article shall be concluded in either state, there shall remain in such state any surplus of the fund so created, such surplus shall be divided equally between the parties hereto and the amount due each state shall be forthwith paid back into the general fund of its commission.
Cite this article: FindLaw.com - New Jersey Acts Saved from Repeal ACTS SAVED 32 § 2-27(64) - last updated January 01, 2024 | https://codes.findlaw.com/nj/acts-saved-from-repeal/nj-st-sect-acts-saved-32-2-27-64/
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