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New Jersey Statutes Title 15A. Corporations, Nonprofit 15A § 1-1

Current as of January 01, 2024 | Updated by Findlaw Staff

a. This Title shall be known and may be cited as the “New Jersey Nonprofit Corporation Act.”

b. This title shall be liberally construed and applied to promote its underlying purposes and policies.

c. Underlying purposes and policies of this title are, among others:

(1) to simplify, clarify and modernize the law governing nonprofit corporations;

(2) to provide a general corporate form for the conduct of lawful, nonprofit activities with such variations and modifications from the form so provided as the interested parties in any nonprofit corporation may agree upon, subject only to overriding interests of this State and of third parties; and

(3) to make the law governing nonprofit corporations as nearly compatible with the New Jersey Business Corporation Act (N.J.S. 14A:1-1 et seq.) as may be practicable, subject to the particular requirements of nonprofit corporations.

d. The presence in certain provisions of this title of the words “unless otherwise provided in the certificate of incorporation” or “unless otherwise provided in the certificate of incorporation or bylaws,” or words of similar import, does not imply that the effect of other provisions may not be varied by provisions in the certificate of incorporation or bylaws.

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Cite this article: FindLaw.com - New Jersey Statutes Title 15A. Corporations, Nonprofit 15A § 1-1 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-15a-corporations-nonprofit/nj-st-sect-15a-1-1/

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