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New Jersey Statutes, Title: 14A, CORPORATIONS, GENERAL
Chapter 18:
Section: 14A:18-4: Termination of status as benefit corporation.
4. a. A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this act by amending its certificate of incorporation to delete the provision required by section 2 or subsection a. of section 3 of this act. The amendment shall not be effective unless it is adopted by at least the minimum status vote.
b. If a plan of merger, consolidation or exchange would have the effect of terminating the status of a corporation as a benefit corporation, the plan shall not be effective unless it is adopted by at least the minimum status vote.
L.2011, c.30, s.4.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 14a:18-4 (if available):
Court decisions that cite this statute:
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