New Jersey Statutes 40:54-29.11. Termination of boards of trustees of free public libraries of participating municipalities; assets and obligations
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Terms Used In New Jersey Statutes 40:54-29.11
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
Upon the formation of a joint free public library, the terms of office of the members of the board of trustees of any free public library of any participating municipality shall terminate. The assets and obligations of any such board of trustees shall devolve upon such municipality unless otherwise provided in the agreement.
L.1959, c. 155, p. 621, s. 9, eff. Sept. 4, 1959.