New Jersey legislation · 2026-2027 Regular Session
New Jersey S4262: Funds held in escrow, certain-concerns
Status: In committee, October 15, 2026
Requires funds received by NJ from lawsuits in which AG participated be held in escrow by certain financial institutions.
What the bill says
An Act concerning certain funds held in escrow and supplementing Title 52 of the Revised Statutes.
From the introduced text, May 14, 2026:
An Act concerning certain funds held in escrow and supplementing Title 52 of the Revised Statutes. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. Notwithstanding the provisions of section 1 of P.L.1956, c.174 (C.52:18-16.1) or any rule, regulation, or order to the contrary, when the Attorney General, by and through the Office of the Attorney General or other counsel retained by the Attorney General, represents the State, any political subdivision of the State, or any agency thereof, in any litigation which results in the receipt of money damages, civil fines, monetary restitution, settlement funds, or other proceeds relating to the litigation, the Attorney General, in consultation with the State Treasurer, shall provide for the deposit of at least 50 percent of such funds in a financial institution that meets the requirements of subsections a. through e. of this section. The financial institution shall: a. Maintain at least 15 percent of its total deposits in the State, as set forth in the most recent Deposit Market Share Report published on the website of the Federal Deposit Insurance Corporation; b. Be licensed or otherwise authorized to do business in this State by the Department of Banking and Insurance (the department) and listed by the department as an approved financial institution; c. Provide escrow, trust, …
Sponsors
- Vin Gopal (D, 11) · primary sponsor
Latest actions
- : REF SCM
- : REP 2RS
- : INT 1RS REF SSG
Votes
- Senate State Government, Wagering, Tourism & Historic Preservation Committee: Reported favorably (October 15, 2026): 4 yea, 0 nay, passed
Subjects: JUDICIARY
Common questions
- What is S4262?
- S4262 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Funds held in escrow, certain-concerns.
- What does S4262 do?
- In its own words: An Act concerning certain funds held in escrow and supplementing Title 52 of the Revised Statutes.
- What is the status of S4262?
- In committee as of October 15, 2026. Latest action: REF SCM (October 15, 2026).
- Who sponsored S4262?
- Vin Gopal (D, 11).
- Where is the official record for S4262?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/S4262
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.