New Jersey § 17:9A-366 Action to determine fair value;  jurisdiction of court; appointment of appraiser

New Jersey Statutes

§ 17:9A-366 — Action to determine fair value; jurisdiction of court; appointment of appraiser

New Jersey § 17:9A-366

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

This text of New Jersey § 17:9A-366 (Action to determine fair value; jurisdiction of court; appointment of appraiser) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 17:9A-366 (2026).

Text

In any action to determine the fair value of shares pursuant to this act:

(a)The Superior Court shall have jurisdiction and may proceed in the action in a summary manner or otherwise;

(b)All dissenting stockholders, wherever residing, except those who have agreed with the participating bank upon the price to be paid for their shares, shall be made parties thereto as an action against their shares quasi in rem;

(c)The court in its discretion may appoint an appraiser to receive evidence and report to the court on the question of fair value, who shall have such power and authority as shall be specified in the order of his appointment; and (d) The court shall render judgment against the participating bank and in favor of each stockholder who is a party to the action for the amount of the fa

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In any action to determine the fair value of shares pursuant to this act: (a) The Superior Court shall have jurisdiction and may proceed in the action in a summary manner or otherwise; (b) All dissenting stockholders, wherever residing, except those who have agreed with the participating bank upon the price to be paid for their shares, shall be made parties thereto as an action against their shares quasi in rem; (c) The court in its discretion may appoint an appraiser to receive evidence and report to the court on the question of fair value, who shall have such power and authority as shall be specified in the order of his appointment; and (d) The court shall render judgment against the participating bank and in favor of each stockholder who is a party to the action for the amount of the fair value of his shares. L.1969, c. 118, s. 12, eff. June 30, 1969.