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Section 14:17-1 - Payment of taxes and charges by directors or trustees

NJ Rev Stat § 14:17-1 (2019) (N/A)
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14:17-1. Payment of taxes and charges by directors or trustees

The directors or trustees of any corporation organized and existing under any general or special law of this State are authorized to pay, and to appropriate money to pay, any taxes, charges or fees which have been or may be imposed or assessed against the corporation, or against or on account of its property, business, income, activities or franchises, by any law of the United States or of any territory of the United States, or of this or any other State or any of its political subdivisions, or of the District of Columbia, notwithstanding doubts as to the validity of such law, unless, prior to the payment of any such tax, charge or fee the law imposing the same shall have been expressly held invalid, ineffective, or inoperative, in whole or in part, by the State court having final appellate jurisdiction in the premises or by the Supreme Court of the United States.

L.1950, c. 102, p. 194, s. 1, eff. May 5, 1950.

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