Upon accounting proceedings in connection with the liquidation of a financial institution, service may be made pursuant to R. 4:56-2 (action to approve a plan of reorganization of a bank) upon the class representative in the action.
Rule 4:53-8.Accounting upon liquidation of a financial institution
Current through June 18, 2026 · Last verified July 7, 2026
In one sentenceRule 4:53-8 lets accounting proceedings in a financial institution's liquidation serve the class representative the same way a bank reorganization action does.
Full Text of Rule 4:53-8
Amendment History
New Jersey publishes each rule’s amendment record in a “History” note beneath the rule. It is reproduced verbatim below; the “R.R.” citations refer to the former Revised Rules numbering the current rules replaced.
Source-R.R. 4:68-9.
Plain-English Summary
Accounting for a liquidated financial institution borrows its service method from a related proceeding. Rather than requiring separate service on every interested person, service may be made on the class representative in the action, the same way Rule 4:56-2 allows in an action to approve a bank reorganization plan.
Frequently Asked Questions
How is notice given in accounting proceedings for a liquidated financial institution?
Service may be made on the class representative in the action, following the same method Rule 4:56-2 uses for a bank reorganization plan.
Source & verification. The rule text and amendment history are reproduced verbatim from the
official New Jersey Rules of Court (N.J. Ct. R. 4:53-8). Prescribed by the Supreme Court of New Jersey (N.J. Const. art. VI, § 2, ¶ 3). The plain-English summary is original and written by us. Last verified July 7, 2026. ·
Official source
Also known as: financial institution liquidation accounting