New Jersey Statutes 12:11A-15. Additional reserve funds
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Terms Used In New Jersey Statutes 12:11A-15
- 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 may establish such additional and further reserve funds as may be, in its discretion, necessary and desirable or to comply with the provisions of any agreement made by or any resolution of the corporation.
L.1968, c. 60, s. 15, eff. June 13, 1968.