New Jersey Statutes 15:19-1. Definitions
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Terms Used In New Jersey Statutes 15:19-1
- 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
As used in this act:
(a) “code” means the Internal Revenue Code of 1954 as amended;
(b) “private foundation trust” means a charitable trust administered by a corporation as herein defined, and which is a private foundation described in section 509(a) of the code, including each nonexempt charitable trust described in section 4947(a)(1) of the code which is treated as a private foundation;
(c) “corporation” means a corporation organized under Title 15 of the Revised Statutes or under any other law of this State applicable to corporations not for profit, to function as a private foundation trust.
L.1971, c. 337, s. 1, eff. Dec. 13, 1971.