P.L. 1977, c. 33, §1, N.J.S.A. 52:25-24.2, became effective on March 8, 1977. It requires corporate and partnership Bidders for contracts with the Borough to submit a statement setting forth the following:
1.
The names and addresses of all stockholders of a corporate Bidder who own 10% or more of its stock.
2.
The names and addresses of all partners of a partnership Bidder who owns 10% or more of its partnership interests.
3.
If one or more such stockholders or partners are itself a corporation or partnership, the names and addresses of all stockholders holding 10% or more of that latter corporation’s stock, or the names and addresses of all partners holding a 10% or more interest in latter partnership.
In addition, the Borough, in the event that a Bidder is a limited liability company, requires that the Bidder must submit a statement setting forth the following:
A.
The names and addresses of all members owning a 10% or greater interest therein and, if any member of the limited liability company is a corporation or a partnership or a limited liability company.
B.
The names and addresses of the stockholders or partners or members holding a 10% or greater interest in such corporation, partnership or limited liability company.
The statement of such names and addresses must be submitted accompany the Response.
No Bidder will be qualified if there is a failure to comply with the requirements set forth above.