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New Jersey Statutes, Title: 46, PROPERTY
Chapter 8a:
Section: 46:8a-27: Incorporation
Nothing herein contained shall prohibit any council of co-owners from incorporating pursuant to the provisions of Title 14 of the Revised Statutes for the purpose of the administration of the building constituted into a horizontal property regime. In the event of any such incorporation, the percentage of stock interest of each co-owner in the corporation shall be equal to the percentage of his right to share in the common elements as computed in accordance with the provisions of section 6 of this act.
L.1963, c. 168, s. 27.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:8a-27 (if available):
Court decisions that cite this statute:
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