New Jersey § 14a:7-6
Full text of New Jersey New Jersey Statutes § 14a:7-6, with citation guidance and answers to common questions.
§ 14a:7-6.
(1) A corporation may provide in its certificate of incorporation for one or more
classes or series of shares which are redeemable, in whole or in part, at the option
of the corporation in cash, its bonds or other property, at such price or prices,
within such period or periods, and under such conditions as are stated in the certificate
of incorporation. A sinking fund may be created for the redemption of any class or series of redeemable
shares. (2) A corporation which is an open-end investment company, as defined in an Act of
Congress entitled “Investment Company Act of 1940,” as amended or supplemented, or
any act adopted in substitution therefor, may, if its certificate of incorporation
so provides and upon compliance with that act, issue shares which are redeemable at
the option of the holder at a price approximately equal to the shares' proportionate
interest in the net assets of the corporation, and a shareholder may compel redemption
of such shares in accordance with their terms. (3) A corporation may provide, in its certificate of incorporation for one or more classes or series of shares which are redeemable, in whole or in
part, at the option of the shareholder. Subject to the restrictions imposed by section 14A:7-16 , such shares may be redeemable in cash, bonds of the corporation or other property,
at such price or prices, as are fixed, or established by formula, within such period or periods and under such conditions as are stated in the certificate
of incorporation, and such shares may also be redeemable at the option of the corporation,
as provided in subsection 14A:7-6(1). If any shares redeemable at the option of the shareholder are outstanding, the certificate of incorporation may be amended to delete or limit the provisions concerning redeemability with respect to those outstanding shares only with the unanimous approval of the holders of those shares. The provisions of this subsection shall not be applicable to an open-end investment
company. (4) (Deleted by amendment, P.L. 1988, c. 94 ).
Frequently Asked Questions About New Jersey § 14a:7-6
What does New Jersey Statutes § 14a:7-6 cover?
Section 14a:7-6 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:7-6?
A common citation format is "New Jersey Statutes § 14a:7-6" (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:7-6 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.