17:16E-5. Interlocking relationships existing prior to this act; termination
Any interlocking relationship prohibited by section 3 of this act which existed prior to the effective date of this act may continue for such a reasonable period of time as may be necessary to terminate one or more of the relationships involved in an orderly manner, but all such interlocking relationships shall be terminated within 1 year after the effective date of this act.
L.1975, c. 265, s. 5, eff. Jan. 1, 1976.
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Last modified: October 11, 2016