17:16J-16 - Protection of depositors; stockholder voting - New Jersey Statutes

17:16J-16.  Protection of depositors;  stockholder voting
    To protect the interest of the depositors of any depository in a supervisory  merger or acquisition, the commissioner may waive the provisions of this or any  other law or regulation if he deems it necessary to effectuate the purposes of  this act.  With respect to stockholders of a depository which is a party to a  supervisory merger or supervisory acquisition, if the commissioner waives the  stockholder voting provisions of this act, he shall require that the merger  agreement include a provision which will provide stockholders with  substantially the same right of dissent and appraisal of their shares which  they would have had if the merger or acquisition had been effected without a  waiver of the stockholders' vote.

     L.1982, c. 8, s. 16, eff. March 4, 1982.