New Jersey Statutes 52:39-11. Construction of act
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Terms Used In New Jersey Statutes 52:39-11
- 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.
11. Nothing in this act shall be construed as requiring a recipient corporation to reduce wage or benefit rates of any employee or be construed as permitting a recipient corporation:
a. To reduce wage or benefit rates established by a collective bargaining agreement or required by any law or regulation; or
b. To provide, in return for a development subsidy, jobs with lower wage or benefit rates, a smaller number of jobs, or jobs for a shorter period of time, than is required with respect to the development subsidy by any other law or regulation.
L.2007, c.200, s.11.