5:10-6.9 Board of trustees to govern foundation.
131 words·~1 min read·
/nj/title-5/chapter-10/5-10-6-9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7. a. The foundation shall be governed by a board of trustees whose members shall be appointed based on their fund-raising ability and other qualifications that are consistent with the goals of the foundation. The number of members of the board of trustees, their terms and the manner of selection including, but not limited to, the naming of a chairperson shall be determined upon incorporation of the foundation.
b. The board of trustees shall be authorized, within the limits of its own funds, to employ an executive director and professional, technical and administrative personnel. Employees of the foundation shall not be construed to be employees of the State of New Jersey. The board shall also be authorized to contract for such professional and administrative services as it shall deem necessary.
L.2005,c.232,s.7.