New Jersey Statutes 48:9-25.9. Rights of corporation to which sale, transfer, conveyance and assignment has been made
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Terms Used In New Jersey Statutes 48:9-25.9
- 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.
The corporation to whom such sale, transfer, conveyance and assignment has been made, shall, thereupon, have and possess all the rights, powers, and privileges to and in such franchises, consents, permits, rights, authorizations, designations or similar privileges, as the transferring corporation had and may exercise all rights, powers and privileges to and in such franchises, consents, permits, rights, authorizations, designations or similar privileges, to the same extent as if the transferring corporation were exercising the same.
L.1952, c. 34, p. 124, s. 2, eff. April 16, 1952.