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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 17: Kinds of insurance
Section: 17:17-11: Transacting business before authority given; liability of directors and corporators
The directors and corporators of any company organized under chapters 17 to 33 of this title (s. 17:17-1 et seq.), shall be jointly and severally liable for all obligations incurred by the company by reason of its having transacted any business before it has received legal authority so to do.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:17-11 (if available):
Court decisions that cite this statute:
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