New Jersey Statutes 43:15A-20. Powers of public corporation; status of realty
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Terms Used In New Jersey Statutes 43:15A-20
- 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.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
The retirement system shall, for the purposes of this act, possess the powers and privileges of a public corporation, and any real property held by it as an investment and occupied by the State or any agency thereof shall be deemed for all purposes to be equivalent to and to have the same status as real property owned by the State.
L.1954, c. 84, p. 487, s. 20. Amended by L.1960, c. 44, p. 180, s. 10.