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2017 New Jersey Revised Statutes
TITLE 17 - CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Section 17:17-11 - Transacting business before authority given; liability of directors and corporators
Universal Citation: NJ Rev Stat § 17:17-11 (2017)
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.
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