New Jersey Statutes 40:62-105.2. Commissioners to be body corporate; name; general powers
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Terms Used In New Jersey Statutes 40:62-105.2
- 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.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
The commissioners thereof and their successors shall be a body corporate to be known by the name of “the commissioners of water district number , in the township of , and county of ,” and shall have power to hold, purchase, lease and convey, in their corporate name, such real and personal estate as the purposes of the corporation shall require; to make and use a common seal; to sue and be sued; and shall have all other corporate power necessary for carrying out the powers hereinafter in this chapter conferred.
L.1951, c. 280, p. 954, s. 2, eff. June 25, 1951.