New Jersey Statutes 27:25-21. Purchases in name of commuter operating agency, its predecessors or commissioner of transportation to be property of corporation
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Terms Used In New Jersey Statutes 27:25-21
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
All real or personal properties purchased heretofore for public transportation purposes in the name of Commuter Operating Agency, Department of Transportation, its predecessors or the Commissioner of Transportation, shall be deemed to have been purchased in the name of the State by and through the corporation and shall henceforth be deemed to be and shall actually be the property of the corporation.
L.1979, c. 150, s. 21, eff. July 17, 1979.