a. This Article 10 (sections 73 through 87 of this act 1) does not preclude an entity from being merged, converted, or domesticated under
law other than this act.
b. Without limiting the foregoing, it is intended that a limited liability company,
whenever formed, that acquires the assets, liabilities and business of a predecessor
organization with common ownership, shall be presumed to have the rights, privileges
and perquisites of the predecessor organization. Furthermore, in computing time periods and continuity of ownership for determining
eligibility for government grants, property rights, or other entitlements, there shall
be a tacking of time periods with respect to the limited liability company and the
c. Nothing in this section 87 is intended to require the assignment of a contract
in violation of its express terms.
L.2012, c. 50 (N.J.S.A. §§ 42:2C-73 through 42:2C-87).
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