New Jersey Statutes 17:52-20. Limitations on indebtedness
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Terms Used In New Jersey Statutes 17:52-20
- 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.
No business development corporation shall voluntarily incur any liability or indebtedness at any time when the incurring of any such liability or indebtedness will exceed 10 times its paid-in capital stock, or $10,000,000.00, whichever is the greater.
L.1957, c. 218, p. 761, s. 20.