New Jersey § 15:18-26
Full text of New Jersey New Jersey Statutes § 15:18-26, with citation guidance and answers to common questions.
§ 15:18-26.
As used in this act: “ Charitable purpose ” means the relief of poverty, the advancement of education or religion, the promotion
of health, the promotion of a governmental purpose, or any other purpose, the achievement
of which is beneficial to the community. “ Endowment fund ” means an institutional fund or any part thereof that, under the terms of a gift
instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment
fund for its own use. “ Gift instrument ” means a record or records, including an institutional solicitation, under which
property is granted to, transferred to, or held by an institution as an institutional
fund. “ Institution ” means: a person, other than an individual, organized and operated exclusively for
charitable purposes; a government or governmental subdivision, agency, or instrumentality,
to the extent that it holds funds exclusively for a charitable purpose; and a trust
that had both charitable and noncharitable interests, after all noncharitable interests
have terminated. “ Institutional fund ” means a fund held by an institution exclusively for charitable purposes. The term does not include: program-related assets; a fund held for an institution
by a trustee that is not an institution; or a fund in which a beneficiary that is
not an institution has an interest, other than an interest that could arise upon violation
or failure of the purposes of the fund. “ Person ” means an individual, corporation, business trust, estate, trust, partnership, limited
liability company, association, joint venture, for-profit corporation, non-profit
corporation, government or governmental subdivision, agency, or instrumentality, or
any other legal or commercial entity. “ Program-related asset ” means an asset held by an institution primarily to accomplish a charitable purpose
of the institution and not primarily for investment. “ Record ” means information that is inscribed on a tangible medium or that is stored in an
electronic or other medium and is retrievable in perceivable form.
Frequently Asked Questions About New Jersey § 15:18-26
What does New Jersey Statutes § 15:18-26 cover?
Section 15:18-26 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 15:18-26?
A common citation format is "New Jersey Statutes § 15:18-26" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 15:18-26 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.