17:16G-7. Board of directors of agency
71 words·~1 min read·
/nj/title-17/chapter-16g/17-16g-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every nonprofit social service agency or nonprofit consumer credit counseling agency licensed under this act shall establish a board of directors whose function shall be to establish the policies of such agency. No more than 40% of the members of the board of directors shall have as their principal employer any corporation, association or institution which offers credit to the general public.
L.1979, c. 16, s. 7, eff. Feb. 8, 1979.