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Current as of January 01, 2024 | Updated by Findlaw Staff
4. This act shall not apply to any corporation unless such corporation shall first, and as a condition precedent to the exercise of any power granted by this act or any other act of the legislature of this state, file in the office of the secretary of state an agreement, to be approved by the governor and the attorney general, waiving all rights of exemption from taxation and from privileges and advantages arising from any law or contract (if any there be) establishing any special mode of taxation of any such corporation, and waiving all rights of removing actions, suits and other proceedings from the courts of this state to the courts of the United States on the ground of citizenship, and the further agreement to be bound by any general law of this state now in existence, or that may hereafter be passed, taxing such corporations as are now authorized to be taxed by the legislature of this state under any general law; and further agreeing that the exercise of any power granted by this act shall not in any way affect the rights of the state (if any there exist) to take the property of such corporation under any existing law of the state, and agreeing further, that all laws affecting such corporations shall be subject to alteration or repeal by the legislature.
Cite this article: FindLaw.com - New Jersey Acts Saved from Repeal ACTS SAVED 48 § 12-144(4) - last updated January 01, 2024 | https://codes.findlaw.com/nj/acts-saved-from-repeal/nj-st-sect-acts-saved-48-12-144-4/
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