17:9A-141 - Appointment of appraisers - New Jersey Statutes

17:9A-141.  Appointment of appraisers    If a stockholder fails to accept the sum offered for his shares pursuant to  section one hundred forty, he may, within three weeks after the receipt by him  of the bank's offer of payment, or, if no offer is made by the bank, within  three weeks after the date upon which his demand was served upon the bank as  specified in section one hundred forty, institute an action in the Superior  Court for the appointment of a board of three appraisers to determine the value  of his shares of stock as of the day of the filing of the merger agreement  pursuant to section one hundred thirty-seven.  The court may proceed in the  action in a summary manner or otherwise.  Any other stockholder who has the  right to institute a similar action may intervene. The court shall, in respect  to any one bank, appoint a single board of three appraisers to determine the  value of the shares of all stockholders of such bank who are parties to such  action.

     L.1948, c. 67, p. 286, s. 141.  Amended by L.1953, c. 17, p. 169, s. 24.