17:16J-10. Executed merger agreement or plan of acquisition
148 words·~1 min read·
/nj/title-17/chapter-16j/17-16j-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Each depository which is a party to a supervisory merger or a supervisory acquisition shall submit to the commissioner: a. an executed merger agreement or plan of acquisition approved by resolution of the board of directors or board of managers; and b. any other information which the commissioner deems necessary to complete the application for a supervisory merger or a supervisory acquisition. Upon the approval of the merger agreement or plan of acquisition by the commissioner, the merger agreement or plan of acquisition, endorsed by each party to the merger or acquisition as being duly approved by the board, shall be filed with the department.
Each depository which is a bank, capital stock savings bank, or capital stock savings and loan association shall mail a copy of the merger agreement or plan of acquisition to each of its stockholders.
L.1982, c. 8, s. 10, eff. March 4, 1982.