17:9A-367 - Judgment in action to determine fair value - New Jersey Statutes

17:9A-367.  Judgment in action to determine fair value
    (1) A judgment for the payment of the fair value of shares shall be payable  upon surrender to the participating bank of the certificate or certificates  representing such shares.

    (2) The judgment shall include an allowance for interest at such rate as the  court finds to be equitable, from the day of the meeting of stockholders of the  participating bank at which the plan of acquisition was approved to the day of  payment.  If the court finds that the refusal of any dissenting stockholder to  accept any offer of payment made by the participating bank under section 10 was  arbitrary, vexatious or otherwise not in good faith, no interest shall be  allowed to him.

     L.1969, c. 118, s. 13, eff. June 30, 1969.