14A:12-6. Dissolution in action brought by the Attorney General
107 words·~1 min read·
/nj/title-14a/chapter-12/14a-12-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The Attorney General may bring an action in the Superior Court for the dissolution of a corporation upon the ground that the corporation
(a)has procured its organization through fraud;
(b)has repeatedly exceeded the authority conferred upon it by law; or
(c)has repeatedly conducted its business in an unlawful manner.
(2)The Superior Court may proceed in such action in a summary manner or otherwise.
(3)The enumeration in subsection 14A:12-6(1) of grounds for dissolution shall not exclude any other statutory or common law action by the Attorney General for the dissolution of a corporation or the revocation or forfeiture of its corporate franchises.