18A:64A-66 - Assets purchased for post-secondary institute; transfer to county college - New Jersey Statutes

18A:64A-66.  Assets purchased for post-secondary institute;  transfer to county college
    All assets purchased by the board of education of the vocational schools of  the county on behalf of and for the use of the institute and currently in use  by the institute shall be transferred, without any financial obligation being  assumed, to the board of trustees of the county college.

    In accepting transferred assets, the board of trustees shall be indemnified  and held harmless by the grantor against any and all claims, outstanding  obligations of any nature, demands, suits or other forms of liability which  have attached to or may arise against assets.

     L.1982, c. 42, s. 17, eff. July 1, 1982.