Current through L. 2024, c. 185.
Section 105 - Purpose and duration of mutual benefit enterprise(a) A mutual benefit enterprise is an entity distinct from its members.(b) A mutual benefit enterprise may be organized for any lawful purpose, whether or not for profit.(c) Unless the articles of organization state a term for a mutual benefit enterprise's existence, the enterprise has perpetual duration.Added 2011, No. 84 (Adj. Sess.), § 1, eff. 4/20/2012.