18A:64A-77 - Vested rights inuring to benefit of college - New Jersey Statutes

18A:64A-77.  Vested rights inuring to benefit of college
    Every gift, grant, legacy, bequest, devise, endowment, estate, remainder, or  expectancy, contained in any will, deed, declaration of trust, transfer, or  other instrument, to or for or inuring to the benefit of the college, or any  constituent unit thereof, whenever established or acquired, and every chose in  action, to which the college is or shall be entitled, in whatever name and  under whatever title, shall continue to be vested or shall vest in and shall  inure to the benefit of the college as completely and effectually as though  expressly made to it in its name and for its use and benefit;  and none of the  same shall lapse, terminate or revert by reason of the enactment of this act;   subject, however, to the provisions of this act and other applicable laws, and  to all of the rights, obligations, relations, conditions, terms, trusts, duties  and liabilities to which the same are subject;  and may effectually execute and  give receipts and discharges and other instruments in the name of the college  or in the name in which the same may have been made or given for the use and to the benefit of the college.

     L.1982, c. 42, s. 28, eff. July 1, 1982.