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New Jersey Statutes, Title: 16, CORPORATIONS AND ASSOCIATIONS, RELIGIOUS
Chapter 12: Incorporation; meeting
Section: 16:12-31: Dividends
The corporation shall pay ratably among the holders of shares or interests then outstanding, annually, or, in the discretion of said trustees, more frequently, dividends which shall approximately equal in each fiscal year, the net income of the trust, after establishing such reserves as they may deem advisable.
L.1944, c. 139, p. 373, s. 6.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 16:12-31 (if available):
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