15A:11-1 - Limitations on rights of dissenting members - New Jersey Statutes

15A:11-1.  Limitations on rights of dissenting members
    A member of a domestic corporation shall not have the right to dissent from  any merger, consolidation, sale of assets, or amendment of the certificate of  incorporation or bylaws, nor shall any member have the right to be paid the  value of any membership held by the member of a domestic corporation effecting  any transaction.  The transaction shall not be enjoined, preliminarily or  permanently, except upon a showing that the transaction is fraudulent or is  fundamentally unfair to any member and, in the action, the member or members  complaining thereof shall have the burden of showing fraud or fundamental  unfairness.

     L.1983, c. 127, s. 15A:11-1, eff. Oct. 1, 1983.