New Jersey Statutes 18A:65-5. Officers or outstanding commitments not affected
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Terms Used In New Jersey Statutes 18A:65-5
- 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.
- Employee: includes the holder of any position or employment. See New Jersey Statutes 18A:1-1
The enactment and adoption of this chapter shall not of itself affect the official status of any officer of the corporation or the university, or any outstanding authorization of any officer, agent or employee to take any specified action, or any outstanding commitment or undertaking of or by the corporation or the university, except to the extent that any of the same may be inconsistent with this chapter.
L.1967, c.271.