New Jersey Revised Statutes § 17:12b-293 - Approval Of Commissioner Needed To Acquire More Than 25% Of Voting Shares

17:12B-293. Approval of commissioner needed to acquire more than 25% of voting shares
No person shall, without the prior approval of the commissioner, acting directly or indirectly or through or in concert with one or more persons:



a. Obtain or exercise control of a capital stock state association; or



b. Acquire beneficial ownership or control of any voting shares of a capital stock state association, if, after the acquisition, the person would beneficially own or control more than 25% of the then-outstanding voting share of the capital stock state association.

L.1989,c.165,s.2.


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Last modified: October 11, 2016