New Jersey Statutes 14A:3-6.9. Applicability
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Terms Used In New Jersey Statutes 14A:3-6.9
- 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.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
9. In any derivative proceeding or shareholder class action against a corporation organized under the provisions of the “New Jersey Business Corporation Act,” N.J.S. 14A:1-1 et seq.:
a. Except for sections 7 and 8 of P.L.2013, c.42 (C. 14A:3-6.7 and 6.8), which must be expressly made applicable by the corporation’s certificate of incorporation, the provisions of P.L.2013, c.42 (C. 14A:3-6.1 et seq.) shall apply to actions brought in state or federal court both within and outside of the State of New Jersey; and
b. The provisions of the corporation’s certificate of incorporation may vary the applicability or effect of the provisions of P.L.2013, c.42 (C. 14A:3-6.1 et seq.) on that corporation.
L.2013, c.42, s.9; amended 2017, c.362, s.1.