New Jersey Statutes 18A:65-2. The term “the corporation” defined; trusts imposed
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Terms Used In New Jersey Statutes 18A:65-2
- 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.
- 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
The term “the corporation,” as used in this chapter, shall mean the said body corporate and politic, incorporated under the name of “the trustees of Queen’s-College, in New Jersey,” by royal charter dated November 10, 1766 (amended March 20, 1770), confirmed and amended by acts of the legislature of the state of New Jersey adopted June 5, 1781, and May 31, 1799, respectively, and having perpetual succession and existence; its name having been changed to “the trustees of Rutgers college in New Jersey” by act of the legislature adopted November 30, 1825 and to “Rutgers, the state university” pursuant to an act of the legislature, approved June 1, 1956; one of the departments maintained by which is and continues to be the land grant college of New Jersey; the property and educational facilities, rights and privileges of which are and shall continue to be impressed with a public trust for higher education of the people of the state of New Jersey; and which is the instrumentality of the state for the purpose of operating the state university. Nothing herein contained shall impress with such trust any property of the state.
L.1967, c.271.