New Jersey Statutes 18A:18A-15.1. Payment from bequest, legacy or gift; conditions
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 18A:18A-15.1
- Bequest: Property gifted by will.
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- goods or services: means any work, labor, commodities, equipment, materials, or supplies of any tangible or intangible nature, except real property or any interest therein, provided or performed through a contract awarded by a purchasing agent, including goods and property subject to N. See New Jersey Statutes 18A:18A-2
- Legacy: A gift of property made by will.
64. Goods or services, the payment for which utilizes only funds received by a board of education from a bequest, legacy or gift, shall be subject to the provisions of N.J.S. 18A:18A-1 et seq., except that if such bequest, legacy or gift contains written instructions as to the specifications, manufacturer or vendor, or source of supply of the goods or services to be provided or performed, such instructions shall be honored.
L.1999,c.440,s.64.