New Jersey Revised Statutes § 14a:18-4 - Termination Of Status As Benefit Corporation.

14A:18-4 Termination of status as benefit corporation.

4. a. A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this act by amending its certificate of incorporation to delete the provision required by section 2 or subsection a. of section 3 of this act. The amendment shall not be effective unless it is adopted by at least the minimum status vote.

b.If a plan of merger, consolidation or exchange would have the effect of terminating the status of a corporation as a benefit corporation, the plan shall not be effective unless it is adopted by at least the minimum status vote.

L.2011, c.30, s.4.


Section: Previous  14a-17-15  14a-17-16  14a-17-17  14a-17-18  14a-18-1  14a-18-2  14a-18-3  14a-18-4  14a-18-5  14a-18-6  14a-18-7  14a-18-8  14a-18-9  14a-18-10  14a-18-11  Next

Last modified: October 11, 2016