New Jersey Statutes 14A:14-25. Reorganization under act of Congress; rights of certain shareholders
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Terms Used In New Jersey Statutes 14A:14-25
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
In any case where a plan of reorganization of a corporation provides for any action to be taken, which, if taken pursuant to any provisions of this act would entitle dissenting shareholders to payment of the value of their shares, such action may be taken by such corporation in reorganization without payment to shareholders of the value of their shares.
L.1968, c.350; amended by L.1973, c. 366, s. 76, eff. May 1, 1974.