17:52-1 - Business development corporations; purposes - New Jersey Statutes

17:52-1.  Business development corporations;  purposes
    Five or more persons, all of whom shall be residents of this State, may form  a corporation, which shall be designated as a business development corporation,  which shall have power to make loans and investments for the purposes of  bringing new industrial, mercantile, recreational, agricultural, mining and  business establishments into this State; assisting existing industrial,  mercantile, recreational, agricultural, mining and business establishments to  remain in this State;  expanding, rehabilitating, and developing industry,  commerce, agriculture, mining, recreational facilities and business generally  in this State to the end that the economic stability of the State may be  maintained, and that the opportunities for employment and the enjoyment of a  high standard of living be uniform throughout the State.

     L.1957, c. 218, p. 753, s. 1.