16:19-8 - Property and income; application - New Jersey Statutes

16:19-8.  Property and income;  application
    The board of trustees shall devote the real and personal property held by them, and the income thereof, only to the purposes of the association, and so long as the board of directors shall so expend the same, the board of trustees shall pay over to the board of directors the income of the real and personal property of the association.  In the discharge of the duties of the board of trustees it may constitute the finance committee of the board of directors, its  agents for the repair, renting and collecting of the rents of the property of  the association, or of the property held by the board of trustees for the use  of the association.