| 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 17b: Statement of beneficial owner, director or officer; amount of securities; change in ownership
Section: 17:17b-3: Unlawful sales of equity securities; defense
It shall be unlawful for any such beneficial owner, director or officer, directly or indirectly, to sell any equity security of such company if the person selling the security or his principal (i) does not own the security sold, or (ii) if owning the security, does not deliver it against such sale within 20 days thereafter, or does not within 5 days after such sale deposit it in the mails or other usual channels of transportation: but no person shall be deemed to have violated this section if he proves that notwithstanding the exercise of good faith he was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense.
L.1965, c. 57, s. 3.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:17b-3 (if available):
Court decisions that cite this statute:
CLICK HERE.