The managers, constituted trustees as provided by section 42:3-16 of this title, may sue for and recover the debts owing to and the property of the
association, in the name of the association, and may be sued by the same name, or
in their own names or individual capacities, for the debts owing by such association,
and shall be jointly and severally liable for such debts, to the amount of the moneys
and property of the association coming into their possession as trustees.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.