New Jersey § 18a:64-42
Full text of New Jersey New Jersey Statutes § 18a:64-42, with citation guidance and answers to common questions.
§ 18a:64-42.
The board of trustees shall, prior to the operation of any auxiliary organization under this act: a. Institute with the approval of the Director of the Division of Budget and Accounting
a standard Statewide accounting and reporting system for businesslike management of
the operation of auxiliary organizations. b. Implement financial standards which will tend to assure the fiscal viability of
auxiliary organizations. These standards shall include proper provisions for professional management, adequate
working capital, adequate reserve funds for current operations and capital replacements,
insurance, and adequate provisions for new business requirements. c. Institute procedures to assure that transactions of the auxiliary organizations
are within the educational purposes of the college. d. Develop policies for the appropriation of surplus funds not required to implement
section 15 of P.L.1982, c. 16 ( C. 18A:64-40 ) . Uses of such funds shall be regularly reported to the board of trustees of the college. e. Determine which college employees may also be employed by the auxiliary organization and the
terms and conditions of such employment.
Frequently Asked Questions About New Jersey § 18a:64-42
What does New Jersey Statutes § 18a:64-42 cover?
Section 18a:64-42 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 § 18a:64-42?
A common citation format is "New Jersey Statutes § 18a:64-42" (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 § 18a:64-42 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.