reglab/housing_qa huggingface dataset:
NJ Rev Stat § 15:18-26 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-26 - Definitions relative to funds held by charitable institutions.

15:18-26 Definitions relative to funds held by charitable institutions.  2. As used in this act: "Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose, the achievement of which is beneficial to the community. "Endowment fund" means an institutional fund or any part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use. "Gift instrument" means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund. "Institution" means: a person, other than an individual, organized and operated exclusively for charitable purposes; a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; and a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated. "Institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include: program-related assets; a fund held for an institution by a trustee that is not an institution; or a fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund. "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, for-profit corporation, non-profit corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. "Program-related asset" means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment. "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. L.2009, c.64, s.2.
NJ Rev Stat § 15:18-28 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-28 - Accumulation of expenditures from endowment fund.

15:18-28 Accumulation of expenditures from endowment fund.  4. a. Subject to the intent of a donor expressed in the applicable gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors: (1) the duration and preservation of the endowment fund;  (2) the purposes of the institution and the endowment fund;  (3) general economic conditions;  (4) the possible effect of inflation or deflation;  (5) the expected total return from income and the appreciation of investments;  (6) other resources of the institution; and  (7) the investment policy of the institution.  b. To limit the authority to appropriate for expenditure or accumulate under subsection a. of this section, a gift instrument shall specifically state the limitation.  c. Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only "income," "interest," "dividends," or "rents, issues, or profits," or "to preserve the principal intact," or words of similar import: (1) create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and (2) do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection a. of this section. L.2009, c.64, s.4.
NJ Rev Stat § 15:18-29 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-29 - Delegation of management, investment of institutional fund to external agent.

15:18-29 Delegation of management, investment of institutional fund to external agent.  5. a. Subject to any specific limitation set forth in a gift instrument or in law other than this act, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in: (1) selecting an agent; (2) establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and  (3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the scope and terms of the delegation. b. In performing a delegated function, an agent shall owe a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation. c. An institution that complies with subsection a. of this section shall not be liable for the decisions or actions of an agent to which the function was delegated. d. By accepting delegation of a management or investment function from an institution that is subject to the laws of this State, an agent shall submit to the jurisdiction of the courts of this State in all proceedings arising from or related to the delegation or the performance of the delegated function. e. An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law of this State other than this act. L.2009, c.64, s.5.
NJ Rev Stat § 15:18-30 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-30 - Release of restriction contained in gift instrument.

15:18-30 Release of restriction contained in gift instrument.  6. a. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund, so long as the release or modification does not allow a fund to be used for a purpose other than a charitable purpose of the institution. b. The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall give notice to the Attorney General in accordance with the Rules of Court of the application, and the Attorney General shall be given an opportunity to be heard. To the extent practicable, any modification shall be made in accordance with the donor's probable intention. c. If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purpose of the institution or charitable intent of the donor. The institution shall give notice to the Attorney General of the application in accordance with the Rules of Court, and the Attorney General shall be given an opportunity to be heard. d. If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution may, following 60 days' notice to the Attorney General, release or modify the restriction, in whole or in part, if: (1) the institutional fund subject to the restriction has a total value of less than $250,000; (2) more than 20 years have elapsed since the fund was established; and (3) the institution uses the property in a manner consistent with the charitable purpose expressed in the gift instrument. L.2009, c.64, s.6.
NJ Rev Stat § 15:18-31 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-31 - Compliance.

15:18-31 Compliance.  7. Compliance with this act shall be determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight. L.2009, c.64, s.7.
NJ Rev Stat § 15:18-32 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-32 - Inapplicability of act.

15:18-32 Inapplicability of act.  8. This act shall apply to institutional funds existing on or established after the effective date of this act. As applied to institutional funds existing on the effective date of this act, this act governs only decisions made or actions taken on or after that date. L.2009, c.64, s.8.
NJ Rev Stat § 15:18-33 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-33 - Modifications, limits, supersedure.

15:18-33 Modifications, limits, supersedure.  9. This act modifies, limits, and supersedes the "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(a) of that act (15 U.S.C. s.7001(a)), 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.2009, c.64, s.9.
NJ Rev Stat § 15:18-34 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:18-34 - Application, construction of act.

15:18-34 Application, construction of act.   10. This act shall be so applied and construed as to effectuate its general purpose to make uniform the law with respect to the subject of this act among the states which enact it. L.2009, c.64, s.10.
NJ Rev Stat § 15:19-1 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:19-1 - Definitions

15:19-1. Definitions  As used in this act: (a) "code" means the Internal Revenue Code of 1954 as amended; (b) "private foundation trust" means a charitable trust administered by a corporation as herein defined, and which is a private foundation described in section 509(a) of the code, including each nonexempt charitable trust described in section 4947(a)(1) of the code which is treated as a private foundation; (c) "corporation" means a corporation organized under Title 15 of the Revised Statutes or under any other law of this State applicable to corporations not for profit, to function as a private foundation trust. L.1971, c. 337, s. 1, eff. Dec. 13, 1971.
NJ Rev Stat § 15:19-2 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:19-2 - Certificates of incorporation; contents

15:19-2. Certificates of incorporation; contents  Notwithstanding any provision to the contrary contained in any law of this State and except as otherwise provided in section 3 of this act, the certificate of incorporation of every corporation as herein defined, shall be deemed to include the following: "This corporation shall make distributions at such times and in such manner as not to subject it to tax under section 4942 of the Internal Revenue Code of 1954, as amended, and shall not engage in any act of self-dealing as defined in section 4941 of the said code, and shall not retain any excess business holdings as defined in section 4943 of said code, and shall not make any investments as defined in section 4944 of the said code, and shall not make any taxable expenditures which would subject it to tax under section 4945 of the said code." L.1971, c. 337, s. 2, eff. Dec. 13, 1971.
NJ Rev Stat § 15:19-3 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:19-3 - Certificate of incorporation; exclusion of provision by amendment

15:19-3. Certificate of incorporation; exclusion of provision by amendment  The governing body of any corporation as herein defined may, without judicial proceedings, amend its certificate of incorporation to expressly exclude the provisions of section 2 of this act, by executing a certificate of amendment incorporating such exclusion and filing a copy thereof in the office of the Secretary of State of this State. Upon the filing of such amendment, the provisions of section 2 of this act shall not be applicable to such corporation. L.1971, c. 337, s. 3, eff. Dec. 13, 1971.
NJ Rev Stat § 15:19-4 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:19-4 - Construction of act to qualify for maximum tax exemptions

15:19-4. Construction of act to qualify for maximum tax exemptions  This act shall be so construed as to enable split-interest trusts and private foundation trusts to qualify for the maximum tax exemptions available to such trusts under the provisions of the Internal Revenue Code of 1954 as amended. L.1971, c. 337, s. 4, eff. Dec. 13, 1971.
NJ Rev Stat § 15:19-5 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:19-5 - Act not to impair power of courts and attorney general

15:19-5. Act not to impair power of courts and attorney general  Nothing in this act shall impair the power conferred by law upon the courts or the Attorney General of this State with respect to any corporation subject to the provisions of this act. L.1971, c. 337, s. 5, eff. Dec. 13, 1971.
NJ Rev Stat § 15:19-6 (2021)
2021 New Jersey Revised Statutes|Title 15 - Corporations and Associations Not for Profit|Section 15:19-6 - Effective date; application to corporations

15:19-6. Effective date; application to corporations  This act shall take effect immediately, and shall apply to all corporations as described in section 2 hereof, whether organized before or after the effective date of this act. L.1971, c. 337, s. 6, eff. Dec. 13, 1971.
NJ Rev Stat § 15A:1-1 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-1 - Short title; purposes; rules of construction; variation

15A:1-1. Short title; purposes; rules of construction; variation  a. This title shall be known and may be cited as the "New Jersey Nonprofit Corporation Act." b. This title shall be liberally construed and applied to promote its underlying purposes and policies. c. Underlying purposes and policies of this title are, among others: (1) to simplify, clarify and modernize the law governing nonprofit corporations; (2) to provide a general corporate form for the conduct of lawful, nonprofit activities with such variations and modifications from the form so provided as the interested parties in any nonprofit corporation may agree upon, subject only to overriding interests of this State and of third parties; and (3) to make the law governing nonprofit corporations as nearly compatible with the New Jersey Business Corporation Act (N.J.S. 14A:1-1 et seq.) as may be practicable, subject to the particular requirements of nonprofit corporations. d. The presence in certain provisions of this title of the words "unless otherwise provided in the certificate of incorporation" or "unless otherwise provided in the certificate of incorporation or bylaws," or words of similar import, does not imply that the effect of other provisions may not be varied by provisions in the certificate of incorporation or bylaws. L.1983, c. 127, s. 15A:1-1, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-2 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-2 - Definitions

15A:1-2. Definitions  As used in this title: a. "Act" means the "New Jersey Nonprofit Corporation Act" ; b. "Board" means the board of trustees or the group of persons vested with management of the business and affairs of the corporation irrespective of the name by which the group is designated; "entire board" means all the trustees then in office; c. "Bylaws" means the code of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name by which these rules are designated; d. "Certificate of incorporation" includes: (1) the original certificate of incorporation or any other instrument filed or issued under any statute to form a domestic or foreign corporation, as amended, supplemented or restated by certificates of amendment, merger or consolidation or by other certificates or instruments filed or issued under any statute, and (2) a special act or charter creating a domestic or foreign corporation, as amended, supplemented or restated; e. "Corporation" or "domestic corporation" means a nonprofit corporation incorporated under this act, or existing on its effective date and organized under any law of this State (other than laws contained in Title 16 of the Revised Statutes) for purposes for which a corporation may be organized under this act; f. "Corporate business entity" means an organization organized under any other statute of this State or any statute of any jurisdiction other than this State pursuant to which business corporate entities may be organized; g. "Foreign corporation" means a nonprofit corporation organized under the laws of a jurisdiction other than this State for the purposes for which a corporation may be organized under this act; h. "Member" means a participant in a corporation having such rights or obligations therein as provided in this act; i. "Trustee" means any member of the board of a corporation, whether designated as a trustee, director, manager, governor, or by any other title. L.1983, c. 127, s. 15A:1-2, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-3 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-3 - Application of act

15A:1-3. Application of act  a. This act shall apply to: (1) every corporation which is organized under this act; (2) every corporation without capital stock which was organized under or became subject to any heretofore enacted law of this State with respect to which power to amend or repeal was reserved to the Legislature, and which provided for the organization of a corporation or corporations for a purpose or purposes for which a corporation may be organized under this act; (3) every corporation which reincorporates under this act pursuant to section 15A:1-4; and (4) foreign corporations to the extent provided in this act. b. Chapters 12 (dissolution) and 14 (insolvency, receivers, and reorganization) of this act shall apply to any corporation organized under any provision of Title 16 of the Revised Statutes except as otherwise provided by any law of this State. L.1983, c. 127, s. 15A:1-3, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-5 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-5 - Authorization to corporations which could be or are organized under title 16 of the revised statutes to adopt provisions of this act without reincorporation

15A:1-5. Authorization to corporations which could be or are organized under title 16 of the revised statutes to adopt provisions of this act without reincorporation  a. Any corporation organized for any purpose for which corporations may be incorporated under Title 16 of the Revised Statutes which is not organized under this act and which has not reincorporated under this act pursuant to section 15A:1-4 may amend its certificate of incorporation or its bylaws to include provisions incorporating by reference any sections of this act to which the corporation wishes to be subject. b. Without limiting the foregoing, any corporation which amends its certificate of incorporation or bylaws to include a provision which sets forth "This corporation shall be subject to the administrative provisions of the New Jersey Nonprofit Corporation Act" shall, without a recitation of the specific sections thereof, be subject to the following sections of this act as if the certificate of incorporation or bylaws of the corporation has been amended to recite the applicability of the text thereof: sections 15A:2-10; 15A:2-11; 15A:3-1 through 15A:3-5; 15A:5-1 through 15A:5-24; 15A:6-1 through 15A:6-17; and 15A:8-1 through 15A:8-5. L.1983, c. 127, s. 15A:1-5, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-6 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-6 - Reservation of power

15A:1-6. Reservation of power  This act may be supplemented, altered, amended or repealed by the Legislature and every corporation, domestic or foreign, to which this act applies shall be bound thereby. L.1983, c. 127, s. 15A:1-6, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-8 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-8 - Repeal of prior acts

15A:1-8. Repeal of prior acts  The repeal by this act of the whole or any part of any act under which there was organized any corporation in existence on the effective date of this act, shall not dissolve the corporation, and the corporation, its officers, trustees and members shall have the same rights, and shall be subject to the same limitations, restrictions, liabilities and penalties as those prescribed by this act for corporations organized under this act, their officers, trustees and members. L.1983, c. 127, s. 15A:1-8, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-9 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-9 - Notices; computation of time; effect of postage class used

15A:1-9. Notices; computation of time; effect of postage class used  a. In computing the period of time for the giving of any notice required or permitted by this act, or by a certificate of incorporation or bylaws or any resolution of trustees or members, 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. b. If notice is given by mail, the notice shall be deemed to be given when deposited in the mail addressed to the person to whom it is directed at the last address of the person as it appears on the records of the corporation, with first class postage prepaid thereon, or 10 days thereafter if the notice is mailed by any postage class other than first class. L.1983, c. 127, s. 15A:1-9, eff. Oct. 1, 1983.
NJ Rev Stat § 15A:1-10 (2021)
2021 New Jersey Revised Statutes|Title 15A - Corporations, Nonprofit|Section 15A:1-10 - Certificates and certified copies

15A:1-10. Certificates and certified copies  a. Upon request of any person, the Secretary of State shall furnish certified copies of documents filed in the office of the Secretary of State in accordance with the provisions of this act. b. Upon the request of any person, the Secretary of State shall certify to the existence or non-existence of any facts on record in the office of the Secretary of State pertaining to domestic or foreign corporations. L.1983, c. 127, s. 15A:1-10, eff. Oct. 1, 1983.