14A:5-18. When redeemable shares no longer entitled to vote
77 words·~1 min read·
/nj/title-14a/chapter-5/14a-5-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
On and after the date on which written notice of redemption of redeemable shares has been mailed to the holders thereof and a sum sufficient to redeem such shares has been deposited with a bank or trust company with irrevocable instruction and authority to pay the redemption price to the holders thereof upon surrender of certificates therefor, such shares shall not be entitled to vote on any matter and shall not be deemed to be outstanding shares.