New Jersey § 14a:7-5
Full text of New Jersey New Jersey Statutes § 14a:7-5, with citation guidance and answers to common questions.
§ 14a:7-5.
(1) Subject to any restrictions contained in the certificate of incorporation, the
consideration for the issuance of shares may be paid, in whole or in part, in : (a) money, (b) real property, (c) tangible or intangible personal property, including stock of another corporation, and obligations of the subscriber or of another person, whether secured or unsecured,
(d) labor or services actually performed for the corporation or in its formation , or (e) labor or services to be performed in the future for the corporation . A new employee's termination of employment with a prior employer or the employee's
acceptance of employment with the corporation is adequate consideration for the issuance
of shares . (2) When payment of the full consideration for which shares are to be issued is made,
the subscriber shall thereupon become entitled to all the rights and privileges of
a holder of such shares, including the registration in his name of a certificate representing
them, and such shares shall be fully paid and nonassessable.
Frequently Asked Questions About New Jersey § 14a:7-5
What does New Jersey Statutes § 14a:7-5 cover?
Section 14a:7-5 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 14a:7-5?
A common citation format is "New Jersey Statutes § 14a:7-5" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 14a:7-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.