17:9A-96 Record date
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/nj/title-17/chapter-9a/17-9a-96·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Record date.
A. The board of directors may fix a date, which shall precede by not more than 60 days:
(1)the date of any meeting of stockholders, or
(2)the date upon which a dividend is to be paid, or
(3)the date upon which rights are to be allotted, or
(4)the date upon which any change or conversion or exchange of capital stock is to take effect, as a record date for the determination of the stockholders who are entitled
(5)to notice of and to vote at any such meeting, and at any adjournment thereof, or
(6)to receive payment of any such dividend, or
(7)to receive any such allotment of rights, or
(8)to participate in any such change, conversion or exchange of capital stock, and in any such case only stockholders of record at the close of business on the date so fixed shall be entitled to notice of and to vote at such meeting and at any adjournment thereof, or to receive payment of such dividend, or to receive such allotment of rights, or to participate in such change, conversion or exchange, as the case may be, notwithstanding any transfer of stock on the books of the bank after the record date so fixed.
B. If no such record date is fixed, only stockholders of record at the close of business on the sixty-fifth day prior to
(1)the date of such meeting, or
(2)the date upon which such dividend is to be paid, or
(3)the date upon which such rights are to be allotted, or
(4)the date upon which such change, conversion or exchange of capital stock is to take effect, shall be entitled to notice of and to vote at such meeting and at any adjournment thereof, or to receive payment of such dividend, or to receive such allotment of rights, or participate in such change, conversion or exchange, as the case may be, notwithstanding any transfer of stock on the books of the bank subsequent to such sixty-fifth day.
L. 1948, c. 67, s. 96. Amended by L. 1949, c. 229, s. 4; 1953, c. 71, s. 1; 1954, c. 142, s. 3; 1986, c. 186, s. 5; 1987, c. 218, s. 1.