Any assets remaining after payment of or provision for claims against the corporation shall be distributed among the shareholders according to their respective rights and interests. Distribution may be made in either or both cash and kind.
N.J. Stat. Ann. § 14A:12-16
Distribution to shareholders
Applied in 1 court decision — leading case Stewart Title Guaranty Co. v. Greenlands Realty, LLC (1999)
Most recently applied in Stewart Title Guaranty Co. v. Greenlands Realty, LLC (May 1999)
L.1968, c.350; amended by L.1969, c. 102, s. 15.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.