State Codes and Statutes

Statutes > New-jersey > Title-14a > Section-14a-11 > 14a-11-9

14A:11-9.  Judgment in action to determine fair value
    (1) A judgment for the payment of the fair value of shares shall be payable  upon surrender to the corporation of the certificate or certificates representing such shares.

    (2) The judgment shall include an allowance for interest at such rate as the  court finds to be equitable, from the date of the dissenting shareholder's  demand for payment under subsections 14A:11-2(3), 14A:11-2(4) or 14A:11-2(5) to  the day of payment.  If the court finds that the refusal of any dissenting  shareholder to accept any offer of payment, made by the corporation under  section 14A:11-6, was arbitrary, vexatious or otherwise not in good faith, no  interest shall be allowed to him.
 
L.1968, c.350.