New Jersey Statutes 20:4-4.2. Unpaid balance; recovery by public agency in civil action; persons liable
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Terms Used In New Jersey Statutes 20:4-4.2
- 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.
In the event that relocation costs to be paid to a public agency pursuant to P.L.1983, c. 536 (C. 20:4-4.1) shall not be paid as and when due, the unpaid balance thereof and all interest accrued thereon, together with attorneys’ fees and costs, may be recovered by the public agency in a civil action as a personal debt of the owner of the real property. If the owner of the real property is a corporation, the directors, officers, and each shareholder who controls more than 5% of the total voting shares of the corporation, shall be personally liable, jointly and severally, for the relocation costs.
L.1984, c. 30, s. 1, eff. April 11, 1984.