New Jersey § 17:44B-12 Establishment of not-for-profit institutions

New Jersey Statutes

§ 17:44B-12 — Establishment of not-for-profit institutions

New Jersey § 17:44B-12

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

This text of New Jersey § 17:44B-12 (Establishment of not-for-profit institutions) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17:44B-12 (2026).

Text

12.

a.A society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by paragraph (2) of subsection a. of section 5 of this act. These institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement but may not be allowed as an admitted asset of the society.

b.No society shall own or operate funeral homes or undertaking establishments. L.1997,c.322,s.12.

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12. a. A society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by paragraph (2) of subsection a. of section 5 of this act. These institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement but may not be allowed as an admitted asset of the society. b. No society shall own or operate funeral homes or undertaking establishments. L.1997,c.322,s.12.