New Jersey § 48:12-132
Full text of New Jersey New Jersey Statutes § 48:12-132, with citation guidance and answers to common questions.
§ 48:12-132.
Any stockholder of any company of this State who shall refuse to convert his stock
into the stock or securities of the consolidated or acquiring company or who shall
dissent from any merger or lease of the property and franchises of his company to
another company, may at any time within 30 day after the adoption of the agreement
by the stockholders of his company apply by complaint on reasonable notice to the
company, or to the consolidated or acquiring company if the consolidation or merger
shall have become effective, to the Superior Court who shall appoint 3 disinterested
citizens of this State to estimate the damage if any done to the stockholder by such
consolidation, merger or lease. Such appraisers shall also separately appraise the shares of the stockholders at
the full market value thereof without regard to any depreciation or appreciation thereof
in consequence of the consolidation, merger or lease. Their award when filed with the clerk of the Superior Court and confirmed by the
Superior Court shall be final and conclusive. The company, or the consolidated or acquiring company if the consolidation or merger
shall have become effective, may, at its election, pay to the stockholder the amount
of damages so found, if any, or the value of the stock so appraised and determined. Upon the payment of the value of his stock it shall be transferred and belong to
the company, or to the consolidated or acquiring company if the consolidation or merger
shall have become effective, as the case may be, to be disposed of by the directors
or retained. In case the value of the stock shall not be paid within 30 days after the confirmation
of the award and notice to the company, or to the consolidated or acquiring company
if the consolidation or merger shall have become effective, the damages so found and
confirmed shall have the force and effect of a judgment of the Superior Court for
such damages against the company or, in the case of the consolidation or merger which
shall have become effective, against the consolidated or acquiring company.
Frequently Asked Questions About New Jersey § 48:12-132
What does New Jersey Statutes § 48:12-132 cover?
Section 48:12-132 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 § 48:12-132?
A common citation format is "New Jersey Statutes § 48:12-132" (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 § 48:12-132 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.