New Jersey Statutes 43:19-12. Application for membership; automatic membership
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Terms Used In New Jersey Statutes 43:19-12
- 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.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
Any employee of the board of street and water commissioners who entered such employ prior to July first, one thousand nine hundred and thirty-five, may avail himself of the benefits of the pension fund by applying in writing for membership therein and paying into the fund monthly the assessments levied by the board of trustees. All such employees who desire to take advantage of this chapter after the formation of the corporation or the creation of the pension fund shall conform with section 43:19-10 of this title.
Every person who may be employed on and after July first, one thousand nine hundred and thirty-five, and who is eligible or who may become eligible to membership in the corporation, shall automatically become a member of such corporation immediately upon the establishment of his eligibility.
Nothing in this section shall serve to involuntarily enroll any employee, eligible to membership, who is already entitled, by virtue of prior military service, to pension benefits established by law for world war veterans.