17:26-3. Adoption of amended charter
129 words·~1 min read·
/nj/title-17/chapter-26/17-26-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When any stock or mutual insurance company of this state has adopted an amendment to its charter, as hereinbefore provided, the stockholders or members of the company, at the time of adopting the amendment, may adopt and ratify in its entirety an amended charter to the end that the amended charter shall fully and completely set forth all the terms and conditions of the charter under which the company shall thereafter transact business. The amended charter shall contain only those provisions which an original certificate of incorporation may lawfully contain, and the rights, remedies or security of existing creditors shall not be impaired by the adoption of the amended charter.
The amended charter shall be executed, acknowledged, approved and filed in the manner hereinbefore provided for amendments of charters.