| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 12b: Construction as revision of prior laws
Section: 17:12b-296: Shares acquired in violation not counted; shares to be registered
a. Any shares in excess of 25\% of the outstanding voting shares of a capital stock state association which are acquired in violation of sections 2 through 4 of this act shall not be eligible to be voted and shall not be counted in determining the number of shares outstanding for the purpose of determining the number or percent of shares required for shareholder action.
b. All shares of stock in a capital stock state association shall be registered in the name of the true owner of the shares, and if held as nominee or in trust or otherwise for the benefit of any other person, the person listed as registered owner shall disclose to the capital stock state association the names and addresses of all persons who hold a beneficial interest in the shares on written demand by the capital stock state association.
L.1989,c.165,s.5.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:12b-296 (if available):
Court decisions that cite this statute:
CLICK HERE.