2A:49-1 - Action for recovery; jurisdiction; bond for costs - New Jersey Statutes

2A:49-1.  Action for recovery;  jurisdiction;  bond for costs
    If moneys, funds or other property held or owned by any municipality or school district, or held or owned officially or otherwise for or on behalf thereof, have been or shall be, without right, obtained, received, paid, converted or disposed of, action for the recovery thereof or to recover damages  or other compensation for such wrongful obtaining, receiving, paying, conversion or disposition, or both, may be maintained in any court of competent  jurisdiction thereof, by 10 freeholders of such municipality or district who  have paid taxes on real estate in such municipality or school district, within  1 year, in the name of and for and on behalf of such municipality or school  district.  Before any such action shall be maintained, such freeholders shall  file with the clerk of such municipality or school district, a bond to the  municipality or school district conditioned for the payment of the costs, if  any, assessed against such municipality or school district, in said action,  approved as to form and amount by a judge of the court in which such action is  brought.