New Jersey Statutes 46:8A-3.1. Organization of two or more regimes as nonprofit corporation; application of act
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 46:8A-3.1
- 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
Where the coowners of the apartments in two or more regimes, which together constitute a single community, are organized into a single entity, such as, but not limited to, a corporation formed under Title 15 of the Revised Statutes of the State of New Jersey, the provisions of this act shall apply to such an entity with the same force and effect as they would if such an entity were in fact a single regime.
L.1978, c. 124, s. 11, eff. Oct. 5, 1978.