N.J.S.A. 40:60-51.12 — Leasing of municipal real estate to nonprofit entities

40:60-51.12. Leasing of municipal real estate to nonprofit entities 1. The governing body of any municipality may lease any real estate owned or controlled by it or any interest therein when, and to the extent that, it is not required for municipal purposes, to any not-for-profit corporation or not-for-profit association while it is used for the purposes of such organization in promoting the health, safety, morals and general welfare of the community and not for commercial business, trade, or manufacturing purposes, without costs or at a nominal rental. L.1966,c.238,s.1; amended 2002,c.19.

This is the verbatim text of N.J.S.A. 40:60-51.12, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.