17:9A-86. Voting of stock subject to pledge
104 words·~1 min read·
/nj/title-17/chapter-9a/17-9a-86A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A stockholder who shall pledge his stock may nevertheless represent and vote such stock in person or by proxy at all stockholders' meetings, unless such stock is transferred on the books of the bank, and in the instrument of transfer it is stated that the transferee is a pledgee or a nominee of a pledgee, and that the pledgee or the nominee of the pledgee is empowered to represent and vote such stock, in which case only the pledgee or the nominee of the pledgee, in person or by proxy, may represent the stock and vote thereon.
L.1948, c. 67, p. 258, s. 86.