New Jersey Statutes 14A:3-6.4. Stay of proceeding
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Terms Used In New Jersey Statutes 14A:3-6.4
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
4. If the corporation commences an inquiry into the allegations made in the demand or complaint, the court may stay any derivative proceeding as the court deems appropriate.
L.2013, c.42, s.4.