16:12-31. Dividends
55 words·~1 min read·
/nj/title-16/chapter-12/16-12-31A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The corporation shall pay ratably among the holders of shares or interests then outstanding, annually, or, in the discretion of said trustees, more frequently, dividends which shall approximately equal in each fiscal year, the net income of the trust, after establishing such reserves as they may deem advisable.
L.1944, c. 139, p. 373, s. 6.