New Jersey Statutes 52:27D-448. Certification of nonprofit community development corporation or Statewide organization
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Terms Used In New Jersey Statutes 52:27D-448
- 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.
6. The department may certify a nonprofit community development corporation or a Statewide organization when it determines that the development corporation or the Statewide organization:
a. has developed a viable plan for providing training, access to financing, and technical assistance for qualified recipients;
b. has demonstrated an ability to successfully provide training and technical assistance to qualified recipients;
c. has broad-based community support within a region and has demonstrated support from other regional entities to provide assistance with service delivery and financial aspects; and
d. has an adequate source of operating capital.
L.1999,c.239,s.6; amended 2004, c.176, s.6.