N.J.S.A. 15A:11-1 — Limitations on rights of dissenting members

15A:11-1. Limitations on rights of dissenting members A member of a domestic corporation shall not have the right to dissent from any merger, consolidation, sale of assets, or amendment of the certificate of incorporation or bylaws, nor shall any member have the right to be paid the value of any membership held by the member of a domestic corporation effecting any transaction. The transaction shall not be enjoined, preliminarily or permanently, except upon a showing that the transaction is fraudulent or is fundamentally unfair to any member and, in the action, the member or members complaining thereof shall have the burden of showing fraud or fundamental unfairness. L.1983, c. 127, s. 15A:11-1, eff. Oct. 1, 1983.

This is the verbatim text of N.J.S.A. 15A:11-1, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.