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Code · New Jersey · Title 17 — Notice and Publication · Chapter 52

17:52-14. Members; qualifications

87 words·~1 min read·/nj/title-17/chapter-52/17-52-14

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Any bank, trust company, national bank, insurance company, surety company or public utility company which is authorized to transact business in this State shall be eligible to become a member of a business development corporation. Membership shall become effective upon the acceptance by the board of directors of an application therefor. No corporation, other than 1 of the nature in this section designated, and no individual or individuals shall be eligible to become a member of a business development corporation.
L.1957, c. 218, p. 759, s. 14.
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