Opinion ID: 1567838
Heading Depth: 1
Heading Rank: 6

Heading: As to the Application of the Act to the Suit at Bar.

Text: We should point out, though the question is not immediately before us, that the wording of R. S. 14:3-15 leaves no discretion in the court below to require security of the plaintiff or the intervener. The only discretion conferred on the court by R.S. 14:3-15 is as to the amount of the security and of the subsequent reimbursement. The Act provides that the corporation shall be entitled    to require the complainant    to give security   , to which the corporation shall have recourse in such amount as the court    shall determine   . This interpretation is in accord with that given to the New York statute, Section 61-b, which as has been observed is almost identical in terms with the New Jersey Act. See Isensee v. Long Island Motion Picture Co., 184 Misc. 625, 54 N.Y.S.2d 556, and Shielcrawt v. Moffett, 294 N.Y. at page 187, 61 N.E.2d at 438. [18] The courts of New Jersey will find the interpretation of Section 61-b by the New York courts to be persuasive in construing R.S. 14:3-15. See In re Cook's Estate, 118 N.J.Eq. 288, 291, 179 A. 259, 260. [19] The remaining points raised by the parties do not require discussion. Our decision makes it unnecessary for this court to pass upon Beneficial's application for mandamus or certiorari. Consequently an order will be entered at No. 9558 dismissing the petition. An order will be entered at No. 9567 reversing the order of the court below and remanding the cause with the direction to proceed in accordance with this opinion.