New Jersey Statutes 16:17-2. Powers of state association
Terms Used In New Jersey Statutes 16:17-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
a. Have perpetual succession by its corporate name;
b. Sue and be sued;
c. Adopt and use a common seal and alter the same;
d. Grant all charters of Spiritualist churches, societies and congregations and to revoke them for good cause;
e. Adopt a constitution and make by-laws;
f. Make laws governing individual societies, churches and congregations, and to prescribe the qualifications of ordained, licentiate and assistant ministers and the method by which candidates for the ministry shall be examined touching their qualifications;
g. Maintain colleges, seminaries and other schools for educating and preparing persons for the ministry; and
h. Purchase, acquire, receive, have and hold any real and personal property, legacies, donations and moneys in trust for the use of the corporation, and to sell, grant, convey, mortgage, lease or otherwise dispose of the same or any part thereof.