New Jersey Statutes 15A:1-1. Short title; purposes; rules of construction; variation
Terms Used In New Jersey Statutes 15A: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
b. This title shall be liberally construed and applied to promote its underlying purposes and policies.
c. Underlying purposes and policies of this title are, among others:
(1) to simplify, clarify and modernize the law governing nonprofit corporations;
(2) to provide a general corporate form for the conduct of lawful, nonprofit activities with such variations and modifications from the form so provided as the interested parties in any nonprofit corporation may agree upon, subject only to overriding interests of this State and of third parties; and
(3) to make the law governing nonprofit corporations as nearly compatible with the New Jersey Business Corporation Act (N.J.S. 14A:1-1 et seq.) as may be practicable, subject to the particular requirements of nonprofit corporations.
d. The presence in certain provisions of this title of the words “unless otherwise provided in the certificate of incorporation” or “unless otherwise provided in the certificate of incorporation or bylaws,” 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 bylaws.
L.1983, c. 127, s. 15A:1-1, eff. Oct. 1, 1983.