Legal Research Home > New Jersey Lawyer > Corporations General > New Jersey Corporations, General Laws Section 14A:5-18. When redeemable shares no longer entitled to vote.

On and after the date on which written notice of redemption of redeemable shares has been mailed to the holders thereof and a sum sufficient to redeem such shares has been deposited with a bank or trust company with irrevocable instruction and authority to pay the redemption price to the holders thereof upon surrender of certificates therefor, such shares shall not be entitled to vote on any matter and shall not be deemed to be outstanding shares.

Last modified: October 21, 2006