New Jersey Statutes 14A:1-1. Short title; purposes; rules of construction; variation
Terms Used In New Jersey Statutes 14A:1-1
- 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
(2) This act shall be liberally construed and applied to promote its underlying purposes and policies.
(3) Underlying purposes and policies of this act are, among others,
(a) to simplify, clarify and modernize the law governing corporations;
(b) to provide a general corporate form for the conduct of lawful business with such variations and modifications from the form so provided as the interested parties in any corporation may agree upon, subject only to over-riding interests of this State and of third parties; and
(c) to give special recognition to the legitimate needs of the close corporation.
(4) The presence in certain provisions of this act of the words “unless otherwise provided in the certificate of incorporation” or “unless otherwise provided in the certificate of incorporation or by-laws,” or words of similar import, does not imply that the effect of other provisions may not be varied by provisions in the certificate of incorporation or by-laws.
L.1968, c.350.