14A:1-7. Repeal of prior acts
80 words·~1 min read·
/nj/title-14a/chapter-1/14a-1-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The repeal by this act of the whole or any part of any act under which there was organized any corporation in existence on the effective date of this act, shall not work a dissolution of such corporation, but such corporation, its officers, directors and shareholders shall have the same rights, and shall be subject to the same limitations, restrictions, liabilities and penalties as those prescribed by this act for corporations organized under this act, their officers, directors and shareholders.