HERITAGE BANK NORTH v. ASHLEY DEVEL. CORP.


194 N.J. Super. 523 (1984)

477 A.2d 410

HERITAGE BANK NORTH, SUCCESSOR TO STATE BANK OF RARITAN VALLEY, PLAINTIFF-APPELLANT, v. ASHLEY DEVELOPMENT CORP., ARTHUR W. DIXON, MARTIN L. FENIK AND W.E. ROOSEVELT, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided June 26, 1984.


Attorney(s) appearing for the Case

T. Kevin Sheehy argued the cause for appellant (Shanley & Fisher, attorneys; T. Kevin Sheehy and Walter J. Fleischer, Jr., on the brief).

Gail H. Allyn argued the cause for respondent W. Emlen Roosevelt (Pitney, Hardin, Kipp & Szuch, attorneys; Gail H. Allyn and Charles Quinn, on the brief).

Before Judges KING and BILDER.


The opinion of the court was delivered by BILDER, J.S.C. (Temporarily Assigned).

On this appeal we are asked to consider the right of a creditor to reach accumulated dividends on a life insurance policy, a question yet undecided in New Jersey. A judgment creditor appeals from the denial of a motion for the turnover of accumulated life insurance dividends due the judgment debtor. The trial court denied the motion on the ground the dividends were exempt from execution...

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