New Jersey Statutes 43:17-28. Funds not to be used for banking purposes
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Terms Used In New Jersey Statutes 43:17-28
- 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.
No part of the funds of the corporation shall be used for banking purposes or in any manner except as provided in this article and except for necessary expenses in carrying out the interests and objects of the corporation.