New Jersey Statutes 43:19-10. Membership; eligibility
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Terms Used In New Jersey Statutes 43:19-10
- 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.
Persons employed by the board of street and water commissioners at the time of the creation of the pension corporation in accordance with this chapter, and persons coming into the employ of the board of street and water commissioners, or its successor, subsequent to the formation of the pension corporation, shall be eligible to become members of the corporation by a majority vote of the board of trustees of the corporation, and compliance with the terms and conditions of membership fixed by the board of trustees.