# N.J. Stat. § 48:23-8: Encumbering of assets

> New Jersey · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-8

## Section

- **Citation:** N.J. Stat. § 48:23-8
- **Heading:** Encumbering of assets
- **Jurisdiction:** New Jersey
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NJ Code / Title 48 / Chapter 23 / Section 23-8

## Text

The authority shall have no power to issue bonds, notes or other obligations, or to mortgage, pledge or otherwise encumber the assets of the authority or any of its income; and no part of the income or the assets of the authority shall inure to the benefit of any director, officer, employee or any other individual, except as may be provided as salary or reasonable compensation for services. L.1968, c. 405, s. 8, eff. Jan. 13, 1969.

## Nearby sections

- [N.J. Stat. § 48:23-1 Short title](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-1.md)
- [N.J. Stat. § 48:23-2 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-2.md)
- [N.J. Stat. § 48:23-3 New Jersey Public Broadcasting Authority; establishment.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-3.md)
- [N.J. Stat. § 48:23-4 Board; appointment; terms; compensation; meetings; organization; secretary; seal.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-4.md)
- [N.J. Stat. § 48:23-7 Powers of authority.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-7.md)
- [N.J. Stat. § 48:23-8 Encumbering of assets](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-8.md)
- [N.J. Stat. § 48:23-9 Political activities](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-9.md)
- [N.J. Stat. § 48:23-10 Educational policies; curriculum content](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-10.md)
- [N.J. Stat. § 48:23-13 Foundation for New Jersey Public Broadcasting established](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-13.md)
- [N.J. Stat. § 48:23-14 Board of directors.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-14.md)
- [N.J. Stat. § 48:23-15 Executive director, employees](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-15.md)
- [N.J. Stat. § 48:23-16 Bylaws](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-16.md)
- [N.J. Stat. § 48:23-17 Use of funds.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-17.md)
- [N.J. Stat. § 48:23-18 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-18.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NJ_T48_C23_S23-8. Check the current official text before relying on it. Not legal advice.