17:9A-166. Confirmation of plan
110 words·~1 min read·
/nj/title-17/chapter-9a/17-9a-166A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the court, upon such notice and hearing as it shall prescribe shall be satisfied that depositors, other creditors and stockholders holding two-thirds in amount of the claims or shares of each class are bound by the plan, as provided in section one hundred sixty-four, exclusive of creditors and stockholders whose acceptances are not required pursuant to subsections B and F of section one hundred sixty-four, and exclusive of each class of creditors or stockholders for which provision is made pursuant to section one hundred sixty-five, it may enter a judgment confirming the plan.
L.1948, c. 67, p. 300, s. 166. Amended by L.1953, c. 17, p. 173, s. 31.