Terms Used In New Jersey Statutes 40:37-95.36

  • 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.
Whenever by resolution a county park commission, established and operating in a county of the first class pursuant to subdivision C of article 4 of chapter 37 of Title 40 of the Revised Statutes, determines that certain lands owned by the commission, of an area not in excess of 50 acres, are no longer required for park purposes, the commission may, by said resolution, authorize the sale and conveyance of such lands to a corporation engaged in the sale and distribution of potable water upon such terms and conditions and for such consideration as the commission determines to be reasonable and in the public interest and as shall be set forth in said resolution.

L.1956, c. 87, p. 180, s. 1.