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N.J. Stat. Ann. § 17:16J-9

Methods; supervisory merger

Known as the New Jersey Automobile Full Insurance Availability Act

The act spans §§ 17:10B-1 to 17:9A-99 (3,637 sections).

L.1982, c. 8, s. 9, eff

A merger agreement shall provide for supervisory mergers by any one, or by any combination of, or by all of the following methods:

a. The exchange of shares of capital stock of each merging depository for shares of capital stock of the receiving or resulting depository;

b. The exchange of shares of capital stock of each merging depository for shares of capital stock of a company;

c. The exchange of shares of capital stock of each merging depository for capital notes or mutual capital certificates of the receiving or resulting depository;

d. The exchange of shares of capital stock of each merging depository for cash or mutual capital certificates received from the receiving or resulting depository or company;

e. The exchange of shares of capital stock of each merging depository for the capital notes of a company when the receiving depository is a subsidiary of the company;

f. The transfer, sale, or exchange of all or any part of the assets of a depository to the receiving depository for cash, capital stock, mutual capital certificates, or accounts;

g. Any other method approved by the commissioner.

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.