reglab/housing_qa huggingface dataset:
NJ Rev Stat § 42:2C-87 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-87 - Article not exclusive.

42:2C-87 Article not exclusive.  87. Article Not Exclusive. a. This Article 10 (sections 73 through 87 of this act) does not preclude an entity from being merged, converted, or domesticated under law other than this act.  b. Without limiting the foregoing, it is intended that a limited liability company, whenever formed, that acquires the assets, liabilities and business of a predecessor organization with common ownership, shall be presumed to have the rights, privileges and perquisites of the predecessor organization. Furthermore, in computing time periods and continuity of ownership for determining eligibility for government grants, property rights, or other entitlements, there shall be a tacking of time periods with respect to the limited liability company and the predecessor organization.  c. Nothing in this section 87 is intended to require the assignment of a contract in violation of its express terms. L.2012, c.50, s.87.
NJ Rev Stat § 42:2C-88 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-88 - Uniformity of application and construction.

42:2C-88 Uniformity of application and construction.  88. Uniformity of Application and Construction. In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. L.2012, c.50, s.88.
NJ Rev Stat § 42:2C-89 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-89 - Relation to electronic signatures in global and national commerce act.

42:2C-89 Relation to electronic signatures in global and national commerce act.  89. Relation to Electronic Signatures In Global and National Commerce Act. This act modifies, limits, and supersedes the federal "Electronic Signatures in Global and National Commerce Act," Pub.L.106-229, 15 U.S.C. s.7001 et seq., but does not modify, limit, or supersede section 101(c) of that act, 15 U.S.C. s.7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of that act, 15 U.S.C. s.7003(b). L.2012, c.50, s.89.
NJ Rev Stat § 42:2C-90 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-90 - Savings clause.

42:2C-90 Savings clause.  90. Savings Clause. This act does not affect an action commenced, proceeding brought, or right accrued before this act takes effect. L.2012, c.50, s.90.
NJ Rev Stat § 42:2C-91 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-91 - Application to existing relationships.

42:2C-91 Application to existing relationships.  91. Application to Existing Relationships. a. Before March 1, 2014, this act governs only: (1) a limited liability company formed on or after the effective date of this act; and (2) a limited liability company formed before the effective date of this act, which elects, in the manner provided in its operating agreement or by law for amending the operating agreement, to be subject to this act. b. On and after March 1, 2014, this act governs all limited liability companies. L.2012, c.50, s.91; amended 2013, c.276, s.9.
NJ Rev Stat § 42:2C-92 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-92 - Tax classification.

42:2C-92 Tax classification.  92. Tax Classification. a. For all purposes of taxation under the laws of this State , a limited liability company formed under this act or qualified to do business in this State as a foreign limited liability company with two or more members shall be classified as a partnership unless classified otherwise for federal income tax purposes, in which case the limited liability company shall be classified in the same manner as it is classified for federal income tax purposes. For all purposes of taxation under the laws of this State, a member or a transferee of a member of a limited liability company formed under this act or qualified to do business in this State as a foreign limited liability company shall be treated as a partner in a partnership unless the limited liability company is classified otherwise for federal income tax purposes, in which case the member or transferee of a member shall have the same status as the member or transferee of a member has for federal income tax purposes. b. For all purposes of taxation on income under the laws of this State and only for those purposes, a limited liability company formed under this act or qualified to do business in this State as a foreign limited liability company with one member is disregarded as an entity separate from its owner, unless classified otherwise for federal tax purposes, in which case the limited liability company will be classified in the same manner as it is classified for federal income tax purposes. For all purposes of taxation on income under the laws of this State and only for those purposes, the sole member or a transferee of all of the limited liability company interest of the sole member of a limited liability company formed under this act or qualified to do business in this State as a foreign limited liability company is treated as the direct owner of the underlying assets of the limited liability company and of its operations, unless the limited liability company is classified otherwise for federal income tax purposes, in which case the member or transferee of a member will have the same status as the member or transferee of a member has for federal income tax purposes. L.2012, c.50, s.92.
NJ Rev Stat § 42:2C-94 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:2C-94 - Notices.

42:2C-94 Notices.  94. Notices. In computing the period of time for the giving of any notice: a. Required or permitted by this act; or b. Unless otherwise provided therein, an operating agreement, the day on which the notice is given shall be excluded, and the day on which the matter noticed is to occur shall be included.  L.2012, c.50, s.94.
NJ Rev Stat § 42:3-1 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-1 - Under authority of R.S. 42:3-1 et seq.

42:3-1. Under authority of R.S. 42:3-1 et seq.  The principal place of business of an association formed under authority of R.S. 42:3-1 et seq. shall be established and maintained within this State. After the effective date of P.L. 1988, c. 130, no new limited partnership associations shall be formed pursuant to the provisions of R.S. 42:3-1 et seq. Amended 1988,c.130,s.38.
NJ Rev Stat § 42:3-2 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-2 - Amending statement

42:3-2. Amending statement  42:3-2. The persons desiring to amend the statement of the association shall  a. Sign and acknowledge before some officer competent to take acknowledgment of deeds, a statement in writing which shall set forth:  I. The full names of such persons;  II. The amount of capital of the association subscribed for by each;  III. The character of the subscription, and if in property other than cash, the description and valuation of such property;  IV. The total amount of capital and when and how to be paid;  V. The character of the business to be conducted and the location of the same;  VI. The name of the association with the word "limited" added thereto as part of same;  VII. The contemplated duration of the association, which shall not, in any case, exceed 20 years; and  VIII. The names of the officers of the association selected in conformity with the provisions of this article.  b. The amended statement shall be recorded in the office of the clerk of the county in which the principal place of business of the association shall be located.  c. (Deleted by amendment, P.L. 1988, c. 130.)  Amended 1988,c.130,s.39.
NJ Rev Stat § 42:3-3 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-3 - Use of word "limited" in name; display of name

42:3-3. Use of word "limited" in name; display of name  1. The word "limited" shall be the last word of the name of every limited partnership association formed under the provisions of this article. 2. Every such association shall at all times conspicuously display its name, in letters easily legible, on the outside of every office or place in which the business of the association is carried on, and shall have its full name mentioned in legible characters in all instruments or writings used in the transaction of the business of the association. 3. The omission of the word "limited" in the use of the name of the association shall render any person who participates in such omission, or knowingly acquiesces therein, liable for any indebtedness, damage or liability arising therefrom.
NJ Rev Stat § 42:3-4 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-4 - Meetings of members of association; election of officers

42:3-4. Meetings of members of association; election of officers  There shall be at least one meeting of the members of the association in each year, at one of which there shall be elected not less than three nor more than five managers of the association, one of whom shall be the chairman, one the treasurer and one the secretary, or one may be both treasurer and secretary. The managers and officers shall hold their respective offices for one year and until their successors are duly installed.
NJ Rev Stat § 42:3-5 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-5 - Contracting debts

42:3-5. Contracting debts  No debt shall be contracted, or liability incurred for a limited partnership association, except by one or more of its managers, and no liability for an amount exceeding five hundred dollars, except against the person incurring it, shall bind the association, unless reduced to writing and signed by at least two managers.
NJ Rev Stat § 42:3-6 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-6 - Real estate; purchase, ownership and disposition

42:3-6. Real estate; purchase, ownership and disposition  A limited partnership association may purchase and hold real estate and dispose of the same in fee simple, or less estate, the title thereof to be in the name adopted by the association, and shall be as valid and effectual as if the same were held in the individual names of the partners of the association. The title to any real estate acquired by any such association prior to March twenty-third, one thousand eight hundred and eighty-three, and held in the association name on that date, shall be as valid as if the same had been acquired under this section. Amended by L.1953, c. 40, p. 760, s. 5, eff. March 19, 1953.
NJ Rev Stat § 42:3-7 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-7 - Deeds, bonds and mortgages; execution and acknowledgment; seal

42:3-7. Deeds, bonds and mortgages; execution and acknowledgment; seal  Every deed or conveyance, and any bonds with or without coupons, and every mortgage for purchase or borrowed moneys made by a limited partnership association shall be made in the name adopted by the association, and shall be acknowledged by its chairman and secretary, and for the purposes of executing such instruments or writings, the association may adopt and use a common seal.
NJ Rev Stat § 42:3-8 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-8 - Actions by and against association; service of process

42:3-8. Actions by and against association; service of process  A limited partnership association shall sue and be sued in its association name. When an action is brought against any such association, service shall be made upon the chairman, secretary or treasurer thereof, which service shall be as complete and effective as if made upon each and every member of the association.
NJ Rev Stat § 42:3-9 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-9 - Liability of individual members; executions

42:3-9. Liability of individual members; executions  The members of any limited partnership association shall not be liable under any judgment or order obtained against the association, or for any debt or engagement of the association, except that, if any execution, sequestration or other process in the nature of execution be issued against the property or effects of the association, and if there cannot be found sufficient thereof on which to levy or enforce such process, such execution, sequestration or other process may be issued against any of the members to the extent of the portions of their subscriptions respectively, in the capital of the association not then paid up. Amended by L.1953, c. 40, p. 760, s. 6, eff. March 19, 1953.
NJ Rev Stat § 42:3-10 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-10 - Execution against members; subscription book

42:3-10. Execution against members; subscription book  No execution of the kind mentioned in section 42:3-9 of this title shall issue against any member of a limited partnership association except upon an order of the court or a judge thereof in which the action or other proceeding was instituted. The court or judge may compel the production of the books of the association showing the names of the members thereof, and the amount of capital remaining to be paid upon their respective subscriptions, and, from such books or other sources of information, ascertain the truth in regard thereto, and may order execution to issue accordingly. The association shall keep a subscription list book for the aforesaid purpose, which shall be open to inspection by the creditors and members of the association at all reasonable times.
NJ Rev Stat § 42:3-11 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-11 - Interests deemed personal, transfer

42:3-11. Interests deemed personal, transfer  42:3-11. Interests in a limited partnership association shall be personal estate, and may be transferred under such rules and regulations as the association may prescribe. No transferee of any interest, or the representative of any decedent member or of any insolvent member shall be entitled thereafter to any participation in the subsequent business of the association, unless he be elected thereto by a vote of the majority of the members in number and value of their interests. Any change of ownership in the property of the association, whether by sale, death, bankruptcy or otherwise, which shall not be followed by election to the association, shall entitle the owner only to his interest in the association at a price and upon terms to be mutually agreed upon, and in default of such agreement the price and terms shall be fixed by an appraiser appointed by the Superior Court subject to the approval of the court.  Amended 1953,c.40,s.7; 1991,c.91,s.409.
NJ Rev Stat § 42:3-12 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-12 - Loan of association's credit, name or capital

42:3-12. Loan of association's credit, name or capital  No limited partnership association shall loan its credit, its name or its capital to any of its members; but such loan may be made to any other person or association, with the consent in writing of a majority of the members in number and value of interest.
NJ Rev Stat § 42:3-13 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-13 - Division of profits of business

42:3-13. Division of profits of business  A limited partnership association may, from time to time, divide the profits of its business in such manner and in such an amount as a majority of its managers may determine, which profits so divided shall not at the time diminish or impair the capital of the association. Any one consenting to a dividend which shall diminish or impair the capital shall be liable to any person interested or injured thereby to the amount of such diminution or impairment.
NJ Rev Stat § 42:3-13.1 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-13.1 - Renewal or continuation of term of existence; resolution; statement; recording

42:3-13.1. Renewal or continuation of term of existence; resolution; statement; recording  Any such limited partnership association whose term is about to expire by limitation under the chapter to which this act is a supplement, may at any time within 5 years next preceding the expiration of such term, by a vote of a majority in number and value of interest of its members at any annual or special meeting of its members called for that purpose, renew or continue the existence of such limited partnership association for such further term, not exceeding 20 years from the expiration of its former term, as may be expressed in a resolution for that purpose. Upon the adoption of such resolution, the chairman and secretary of the association shall make, sign and acknowledge a statement of renewal or continuance of the association which shall include the resolution authorizing such renewal or continuance certified by the secretary, which statement shall be recorded in the office of the clerk of the county where the original statement of the limited partnership association is recorded, and the record thereof or a certified copy of such record shall be prima facie evidence of the facts therein recited; provided that such limited partnership association shall at the time of filing such renewal statement pay the same fee as would be required in the case of an original formation of such association. L.1963, c. 141, s. 1, eff. Aug. 26, 1963.
NJ Rev Stat § 42:3-13.2 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-13.2 - Time of renewal

42:3-13.2. Time of renewal  Upon the recording of such statement of renewal in the office of the clerk of the proper county, such association shall be renewed; provided, however, that the renewed term of such limited partnership association shall begin from the expiration of its former term whether original or renewed, and an association whose term has thus been renewed shall be the same association with all the rights, powers, duties and obligations as theretofore. L.1963, c. 141, s. 2, eff. Aug. 26, 1963.
NJ Rev Stat § 42:3-13.3 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-13.3 - Successive periods of renewal or continuation; duration of period

42:3-13.3. Successive periods of renewal or continuation; duration of period  The term of a limited partnership association which has once been renewed or continued may, as provided herein, be further renewed or continued for successive periods, each of which shall not exceed 20 years. L.1963, c. 141, s. 3, eff. Aug. 26, 1963.
NJ Rev Stat § 42:3-13.4 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-13.4 - Dissatisfied member entitled to his interests; procedure

42:3-13.4. Dissatisfied member entitled to his interests; procedure  4. If any member of any such limited partnership association shall be dissatisfied with or object to any such renewal or continuance, then the member shall be entitled only to his interest in the association at a price and upon terms to be mutually agreed upon, and in default of such agreement, the price and terms shall be fixed by an appraiser appointed by the Superior Court, subject to the approval of the said court, and upon the payment of the interest as aforesaid, the said member shall transfer his interest to said association, to be disposed of by the managers, or be retained by them for the benefit of the remaining members.  L.1963,c.141,s.4; amended 1991,c.91,s.410.
NJ Rev Stat § 42:3-14 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-14 - Dissolution; when authorized; notice; publication

42:3-14. Dissolution; when authorized; notice; publication  1. A limited partnership association formed under authority of article 1 of this chapter (s. 42:3-1 et seq.) may be dissolved: I. Whenever the period fixed for the duration of the association expires; II. Whenever by a vote of a majority in number and value of interest, it shall be so determined. 2. Notice of the dissolution shall be given by publication in two newspapers published in the proper city or county at least six consecutive times, and immediately upon the commencement of such publication the association shall cease to carry on its business, except so far as may be required for the beneficial winding up thereof.
NJ Rev Stat § 42:3-15 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-15 - Association continued for closing affairs

42:3-15. Association continued for closing affairs  Any limited partnership association formed under authority of article 1 of this chapter (s. 42:3-1 et seq.) shall, upon its expiration by its own limitations or its dissolution otherwise, be continued as such an association to enable it to prosecute and defend actions, to settle and close its affairs, dispose of and convey its property and assets of all kinds, both real and personal, and to divide its capital, but not for the purpose of continuing the business for which it was established.
NJ Rev Stat § 42:3-16 (2021)
2021 New Jersey Revised Statutes|Title 42 - Partnerships and Partnership Associations|Section 42:3-16 - Managers as trustees for purpose of settlement; powers

42:3-16. Managers as trustees for purpose of settlement; powers  The managers of any expired or dissolved limited partnership associations, or, where a vacancy exists at the time of or occurs subsequent to the expiration or dissolution, the surviving managers or manager shall be the trustees or trustee thereof, as the case may be. The trustees or trustee shall have full power to settle the affairs of the association, collect the outstanding debts, sell and convey the property and assets of all kinds, real and personal, and divide the moneys and other property among the members, after paying its debts, as far as such money and property shall enable them. The trustees shall have power to meet and act under regulations made by a majority of them. They or the survivor of them shall have power to prescribe the terms and conditions of sale of such property and may sell all or any part for cash, or partly on credit, or take mortgages and bonds for part of the purchase price for all or any part of such property. They may in their discretion compound and settle with any debtor or creditor of the association, or with persons having possession of its property, or in any way responsible to the association at the time of the expiration or dissolution thereof, or afterwards, upon such terms and in such manner as they shall deem just and beneficial to the association. The trustees or trustee may, in case of mutual dealings between the association and any person, allow just set-offs in favor of such person in all cases in which the same ought to be allowed, and they shall have full power to perform all such other acts as shall be necessary to carry out the provisions of this article. Amended by L.1953, c. 40, p. 761, s. 8, eff. March 19, 1953.