New Jersey § 34:1b-97

§ 34:1b-97.

In order to qualify as an export financing company eligible to be the subject of an

investment by the authority and by the other public entities involved in international

export markets, a company shall: a. Have a board of directors or board of trustees appropriate to the form of incorporation or organization of the company consisting of: (1) the commissioner and the chairman of the authority,

who shall be members ex officio; and (2) representatives of export trading companies,

banking and other financial institutions, and other representatives of the private

sector, who shall be selected by private stockholders or members , and who shall constitute the majority of the membership of the board. b. Retain the services of an independent commercial auditor: (1) to determine the extent to which funds made available to the company for its purposes

have been expended in a manner that is consistent with the purposes of this act and

the charter or operating agreement of the company; and (2) to prepare and submit to the Legislature, the State Treasurer, the authority and

the other public entities participating in the purchase of stock or an interest in the company, an independent certified statement annually containing the findings

and determinations of such auditor. c. In connection with the investment of authority moneys in the company pursuant to

this act, solicit other forms of support, such as grants from the federal government

or from other public and private sources, and make available its stock or a shared interest for purchase by private entities.