New Jersey § 17:9a-364

§ 17:9a-364.

(1) Within 10 days after the expiration of the period within which stockholders may

make written demand to be paid the fair value of their shares, or within 10 days after

the plan of acquisition becomes effective, whichever is later, the participating bank

shall mail to each dissenting stockholder the balance sheet and the surplus statement

of the participating bank as of the latest available date, which shall not be earlier

than 12 months prior to the making of the offer of payment hereinafter referred to

in this subsection, and a profit and loss statement or statements for not less than

a 12-month period ended on the date of such balance sheet or, if the participating

bank was not in existence for such 12-month period, for the portion thereof during

which it was in existence. The participating bank may accompany such mailing with a written offer to pay each

dissenting stockholder for his shares at a specified price deemed by such bank to

be the fair value thereof. Such offer shall be made at the same price per share to all dissenting stockholders

of the same class, or, if divided into series, of the same series. (2) If, not later than 30 days after the expiration of the 10-day period limited by

subsection (1) of this section, the fair value of the shares is agreed upon between

any dissenting stockholder and the participating bank, payment therefor shall be made

upon surrender of the certificate or certificates representing such shares.