N.J.S.A. 17:12B-293 — Approval of commissioner needed to acquire more than 25% of voting shares

17:12B-293. Approval of commissioner needed to acquire more than 25% of voting shares No person shall, without the prior approval of the commissioner, acting directly or indirectly or through or in concert with one or more persons: a. Obtain or exercise control of a capital stock state association; or b. Acquire beneficial ownership or control of any voting shares of a capital stock state association, if, after the acquisition, the person would beneficially own or control more than 25% of the then-outstanding voting share of the capital stock state association. L.1989,c.165,s.2.

This is the verbatim text of N.J.S.A. 17:12B-293, 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.